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Walden University
Review Committee
Dr. Deborah Nattress, Committee Chairperson, Doctor of Business Administration
Faculty
Walden University
2020
Abstract
by
Walden University
December 2020
Abstract
The low rate of customers’ adoption of electronic banking services affects retail banks’
profitability. The operating cost for a financial transaction performed by bank tellers
paramount for retail banking leaders to understand the factors influencing customer
study was to examine the relationship between perceived usefulness (PU), perceived ease
of use (PEOU), and customer adoption of electronic banking in Barbados. The validated
technology acceptance model survey instrument was used to collect 72 responses from
bank account holders living in Barbados who owned a mobile smartphone or a computer
and used electronic banking services (mobile or online banking). A multiple regression
analysis confirmed that the model as a whole was able to significantly predict customer
adoption of electronic banking services: F(2, 69) = 123.503, p < .001. Both PU and
PEOU were statistically significant with PEOU (t = 6.249, p < .01, β = .574) accounting
for a higher contribution to the model than PU (t = 3.883, p < .01, β = .357). A key
resources to aid in increasing their usage of electronic banking services. The implications
services to retail banking customers, and expanded access to affordable financial services
by
Walden University
December 2020
Dedication
My favorite quote is “the sky is the limit,” but I cannot do it alone! Successful
completion of this doctoral study is proof of that fact, so I would like to dedicate this
work to God, who gives me the strength to do all things possible. I also dedicate this
pursue my life-long goal and rewarded me when I took the leap of faith to start the
degree. You cheered me on when I felt overwhelmed with competing priorities and
celebrated each milestone with me along the journey. To my mother, Brenda Watson, for
her continuous support and prayers, thank you so much! To my siblings, Kayrene,
Gregory, Beverley, Nigel, and Kenville, I rarely saw you, but thank you for keeping in
touch! To my church family at Christ is the Answer Family Church and ministry group,
Daughters of Worship International, who prayed me through each day and shouldered
some of my responsibilities while I studied, thank you! Finally, I dedicate this study to
Fitzroy Bardouille, my coach, friend, and mentor, for your unwavering support, guidance,
and encouragement; you kept me focused on the destination! Thank you all!
Acknowledgments
This achievement was possible because of the reliable support system behind me!
I thank God for keeping me in good health, strength, and will. To my chair, Dr. Deborah
Nattress, I thank you for keeping me focused throughout my dissertation, for your
leadership, encouragement, and sharing your personal experiences to show that I was not
alone when I felt overwhelmed. To my SCM, Dr. Roger Mayer, for your direction and
support, thank you! To my URR, Dr. David Moody, for your critique and encouragement
that helped me to produce quality work, thank you! I would also like to thank my
I acknowledge and thank my colleagues from the 8100 and 9000 courses and
faculty from previous courses for their valuable feedback. To the Writing Center staff,
especially Claire who challenged me to take my writing skills to the next level with each
submission, thank you! To other family members, friends, and work colleagues who have
List of Figures...................................................................................................................... v
Problem Statement......................................................................................................... 2
Hypotheses .................................................................................................................... 4
Assumptions ............................................................................................................ 6
Limitations ............................................................................................................... 7
Delimitations ........................................................................................................... 7
i
Rival Theories ....................................................................................................... 18
Measurement ......................................................................................................... 24
Transition ..................................................................................................................... 45
Participants .................................................................................................................. 48
Data Analysis............................................................................................................... 67
ii
Transition and Summary ............................................................................................. 77
Introduction ................................................................................................................. 79
Reflections ................................................................................................................... 99
iii
List of Tables
iv
List of Figures
Figure 2. Normal probability plot (P-P) of the regression standardized residuals ............ 86
v
1
Section 1: Foundation of the Study
that researchers claim is advantageous to both banks and their customers (Patel & Patel,
2017). Bank leaders promote e-banking to reduce operating expenses, create efficiency,
and promote customer retention, whereas customers enjoy the convenience, accessibility,
and availability (Patel & Patel, 2017). As a developing country, Barbados is in its infancy
stages of electronic banking and bank leaders are faced with challenges to convert a
(Mishra & Singh, 2015; Rad, Rasoulian, Ali, Mahmoad, & Sharifipour, 2017; Sanchez-
Torres, Canada, Sandoval, & Alzate, 2018). Akhisar, Tunay, and Tunay (2015) noted that
retail banking leaders could eliminate 40% percent of the branch-based transaction costs
profitability and sustain competitive advantage, however the customer adoption rate
remained low (Akhisar et al., 2015; Belas, Koraus, Kombo, & Koraus, 2016). My
doctoral research study provided strategies to help retail banking leaders in Barbados
understand the relationship between perceived usefulness (PU), perceived ease of use
(PEOU), and customer adoption of electronic banking services. The study also provided a
2
predictive model to help retail banking leaders in Barbados reduce high-cost branch-
Problem Statement
The low rate of customers’ adoption of e-banking services affects retail banks’
profitability (Mansour, 2016). The operating cost for a financial transaction performed by
bank tellers in 2011 totaled US$1.07 compared to US$0.01 using e-banking channels
(Chandio, Irani, Zeki, Shah, & Shah, 2017). The general business problem was that banks
lose money when customers do not use e-banking services. The specific business
problem was that some retail banking leaders in Barbados do not understand the
relationship between perceived usefulness (PU), perceived ease of use (PEOU), and
Purpose Statement
Barbados. The predictor variables were PU and PEOU. The dependent variable was e-
banking adoption. The target population was retail banking customers in Barbados with
access to smartphones, tablets, laptops, or desktop computers who had at least one bank
account. The implications for social change included the potential to provide an improved
Researchers use three methods to conduct their studies: (a) quantitative, (b)
qualitative, and (c) mixed methods (Fricker, 2016). According to Saunders, Lewis, and
between variables and apply closed-ended questions to test hypotheses. In this study, I
between two independent variables (PU, PEOU), and one dependent variable (electronic
phenomenon and gather information using open-ended questions (Rutberg & Bouikidis,
2018). I did not attempt to explore a central phenomenon; therefore, a qualitative method
was not appropriate for this study. Mixed method researchers adopt both quantitative and
qualitative methodologies in a single study (Saunders et al., 2015; Yin, 2018). I did not
use a mixed method approach because I did not require qualitative data in this study.
examine the relationship between two or more variables (Saunders et al., 2015). The
correlational design was appropriate for this study because the purpose of the study was
to examine the relationship between a set of predictor variables and a dependent variable.
I did not choose experimental or quasiexperimental designs because they are appropriate
when researchers attempt to assess a degree of cause and effect (Rutberg & Bouikidis,
2018; Saunders et al., 2015). The primary objective of this study was to examine the
RQ: What is the relationship between PU, PEOU, and customer adoption of
Hypotheses
Theoretical Framework
of the theory of reasoned action (TRA) previously proposed in 1975 by Fishbein and
Ajzen (Illia, Ngniatedema, & Huaug, 2015; Mansour, 2016; Mansour, Eljelly, &
Abdullah, 2016; Marakarkandy, Yajnik & Dasgupta, 2017; Ozlen & Djedovic, 2017;
Patel & Patel, 2018). Davis argued that people adopt technology primarily because of the
functions it performs and secondly because of the ease or difficulty with the system
performing these functions (Mansour, 2016; Mansour et al., 2016; Ozlen & Djedovic,
2017; Patel & Patel, 2018). TAM is concerned with PU, individuals’ belief that the use of
technology will improve their job performance; and PEOU, individuals’ belief that use of
such technology would require minimal effort (Mansour et al., 2016; Marakarkandy et
al., 2017; Patel & Patel, 2018; Shaikh & Karjaluoto, 2015; Sharma, Govindaluri, &
Balushi, 2015).
5
Theorists of TAM confirmed the model as a powerful and parsimonious concept
and sought to provide bank leaders, local governments, marketing professionals, and
Internet banking service providers with strategies to enhance their e-banking platforms,
features, and benefits to increase the rate of customers’ adoptions (see Aboobucker &
Bao, 2018; Mansour et al., 2016; Marakarkandy et al., 2017; Patel & Patel, 2018; Shaikh
& Karjaluoto, 2015; Sharma et al., 2015). As it related to this quantitative correlational
study, I applied TAM as the theoretical framework because it aligned with my objective
Barbados.
Operational Definitions
customers perform over the counter (OTC) in the retail banking industry (Gaservic,
through access to resources, markets, and opportunities for its products or services (Arbi,
channel for customers in the banking industry to perform financial transactions via the
Internet, mobile, telephone, or automated teller machines (ATMs; Rad et al., 2017).
consumer believes that using the technology will increase performance (Davis, 1989)
with retail banks performing customer financial OTC activities (Akhisar et al., 2015).
delimitations of this study. Assumptions are beliefs that are true but unverifiable
(Bryman, 2016; Leedy & Ormrod, 2015; Marshall & Rossman, 2014). Limitations are
factors that the researcher has no control over but could negatively influence the study
(Leedy & Ormrod, 2015; Marshall & Rossman, 2014; Yin, 2018). Delimitations are the
elements the researcher outlined as the scope of the research (Ensslin, Dutra, Ensslin,
Chaves, & Dezem, 2015; Leedy & Ormrod, 2015; Marshall & Rossman, 2014).
Assumptions
Assumptions are the researcher’s underlying and inherent beliefs that are true but
unverifiable and usually direct the research study (Leedy & Ormrod, 2015; Marshall &
Rossman, 2014; Yin, 2018). Assumptions are also the factors that a researcher may not
have control over but form part of the study (Cerniglia, Fabozzi, & Kolm, 2016; Leedy &
Ormrod, 2015). In this quantitative correlation study, I had the following assumptions: (a)
the participants voluntarily participated in the survey; (b) each participant responded to
the survey questions honestly, independently, and anonymously; (c) the participants’
7
responses to the survey questionnaire were accurate representations of the opinions of all
electronic banking services, and (e) the opinions of the selected participants represented
the views of other electronic banking customers in the retail banking industry in
Barbados.
Limitations
Limitations are factors that could negatively impact the quality of the study
(Adewunmi, Koleoso, & Omirin, 2016; Friedman, Fireworker, & Nagel, 2017; Leedy &
variables but cannot prove cause and effect (Altman & Krzywinski, 2015; Leedy &
Ormrod, 2015). There were four limitations in this study. The first limitation was that
participants could withdraw from the survey at any time; therefore, the valid responses
may not be a representation of the population. The second limitation was the use of the
survey technique with closed-ended responses of participants. Thirdly, the study focused
on retail banking customers in Barbados that might not have represented the views of
within the Caribbean region. Lastly, this study might become irrelevant due to technology
customer demands.
Delimitations
well as the scope and boundaries that governed the research (Ensslin et al., 2015; Jolley
8
& Mitchell, 2010; Leedy & Ormrod, 2015). Delimitations of my study included the
following: (a) I did not address customer reaction to electronic banking services; (b) I
collected data from customers who met specific criteria; (c) the study did not include
banking services, and (d) the findings of this study might be only applicable to Barbados.
This decision may have limited my ability to investigate more themes to support my
Over the past 2 decades, there has been a rapid growth in technology innovation
in the banking industry. Retail banking leaders continue to invest in Internet banking,
convenient ways to conduct their financial activities while reducing operating expenses
associated with branch-based transactions (Akhisar et al., 2015; Alkailani, 2016; Shaikh
& Karjaluoto, 2015). However, the success rate of converting customers to electronic
banking has been slower than bank leaders expected (Akhisar et al., 2015; Alkailani,
2016; Olufemi & Ezekiel, 2017; Shaikh & Karjaluoto, 2015). The significance of this
study was three-fold: (a) to help retail banking leaders, marketers, and technology
developers improve the design and implementation strategies for their electronic banking
also provided a model that might help retail banking leaders reduce high-cost branch-
based transactions with the adoption of lower-cost electronic banking services that could
The implications for social change included the potential to provide an improved
Barbados. Increased usage of electronic banking services could stimulate the progression
of Barbados into an environmentally friendly society with a reduction in the paper used to
information about a research topic (Saunders et al., 2015). A literature review is either
narrative, which critiques a topic but does not provide information on the selection
criteria for the studies, or systematic, where studies are selected based on the research
10
topic (Onwuegbuzie & Weinbaum, 2017). I began the literature review with a systematic
review of the extant literature on TAM, the predictor variables (PU and PEOU) of the
study, and prior research on TAM and e-banking adoption. The section contained a
detailed discussion on the rival theories and measurement. I discussed other factors that
218 peer-reviewed references, with 201 (92.20%) published within the past 5 years as of
2019.
I explored the Walden University online library as the primary source for articles
Central, Emerald Management Journals, SAGE Journals, and Google Scholar. My search
was limited mainly to peer-reviewed articles within 5 years as of 2019. I used search
banking, e-banking, mobile banking, Internet banking, online banking, electronic banking
between PU, PEOU, and customers’ adoption of e-banking services. The alternative
hypothesis was that there is a statistically significant relationship between PU, PEOU,
and customers’ adoption of e-banking services. The targeted population was comprised of
adult individuals residing on the island of Barbados. The implications of this study for
create access to affordable financial services for individuals in Barbados. Increased usage
environmentally friendly society with a reduction in the paper used to perform branch-
based transactions.
Researchers use the TAM model to examine the impact of technology on human
behavior (Chauhan, 2015; Sinha & Mukherjee, 2016). Davis (1986) developed the TAM
model to analyze the impact of external factors on internal beliefs, attitudes, and
intentions (Chauhan, 2015; Illia et al., 2015; Mansour, 2016; Priya et al., 2018). The
(1975) TRA. Fishbein and Ajzen claimed that users’ attitudes influenced their behavioral
2016; Marakarkandy et al., 2017; Ozlen & Djedovic, 2017; Patel & Patel, 2018; Sinha &
Mukherjee, 2016). Davis hypothesized that people accept technology because of the
12
functions it performs (PU) and the ease or difficulty of the system performing these
functions (PEOU; Mansour, 2016; Mansour et al., 2016; Ozlen & Djedovic, 2017; Patel
TAM is concerned with two constructs: PU, referred as the extent to which
individuals believe that the use of technology will improve their job performance, and
PEOU, known as the degree to which individuals believe that use of such technology
would require minimal effort (Mansour et al., 2016; Marakarkandy et al., 2017; Patel &
Patel, 2018; Shaikh & Karjaluoto, 2015; Sharma et al., 2015). Theorists of TAM viewed
the model as a powerful and parsimonious concept and sought to provide bank leaders,
local governments, marketing professionals, and Internet banking service providers with
strategies to enhance their e-banking platforms, features, and benefits to increase the rate
of customers’ adoptions (see Aboobucker & Bao, 2018; Alalwan, Dwivedi, Rana &
Williams, 2016; Mansour et al., 2016; Marakarkandy et al., 2017; Patel & Patel, 2018;
productivity and performance (Priya et al., 2018; Ramos, Ferreira, de Freitas, &
Rodrigues, 2018). Users perceive systems to be useful when they use the technology to
improve their job performance and productivity (Davis, 1989; Patel & Patel, 2018; Priya
et al., 2018). PU plays an important role in strategic decision making as it relates to the
development of the features and functionalities of a system. Priya et al. (2018) purported
that users perceive a system to be useful when they think a positive relationship between
its usefulness and performance. Fellow researchers claimed that PU is a significant factor
13
that affects user acceptance of information technology (see Alkailani, 2017; Mansour et
al., 2016; Marakarkandy et al., 2017; Rodrigues, Oliveira, & Costa, 2016). In the context
of e-banking, if customers believe that online and mobile banking services are useful,
banking is its 24-hour availability, Alkailani, (2016) supported this claim and highlighted
that the ease of processing transactions and increased financial transparency were
additional benefits of online banking usefulness. Priya et al. (2018) found that customers
perceived mobile banking useful because it was low cost, convenient, and easy to
conduct banking. For the purpose of this study, I adopted Liebana-Cabanillas, Munoz-
Leiva, Sanchez-Fernandez, and Viedma-del Jesus’s (2016) and Rodrigues et al.’s (2016)
definitions of PU as the degree to which a bank’s customer perceives that the use of a
business application makes it easier to purchase or sell financial products. Bank leaders
could benefit from increased financial performance with reduced overhead expenditures
Perceived ease of use (PEOU). The theorists of the TAM framework posited that
to adopt new technologies (Patel & Patel, 2018; Priya et al., 2018; Ramos et al., 2017).
Researchers claimed that the concept of PEOU is an important factor in the acceptance of
(Alkailani, 2016; Liebana-Cabanillas et al., 2016; Mansour et al., 2016; Rodrigues et al.,
use of online and mobile banking services while finding the experience to be enjoyable
(Alkailani, 2016; Liebana-Cabanillas et al., 2016; Ramos et al., 2017; Rodrigues et al.,
2016; Sinha & Mukherjee, 2016). Mansour et al. (2016) and Rodrigues et al. (2016)
stated that if users perceived e-banking easy to use, they would be more likely to adopt
the services. Priya et al. (2018) supported this claim and noted that when customers
perceive mobile services to be easy, they feel less threatened using the applications.
In previous studies on TAM, researchers found that PEOU had a direct positive
& Patel, 2018). Other researchers did not identify a significant relationship between
PEOU and technology adoption (Marakarkandy et al., 2017; Patel & Patel, 2018). To
increase the use of mobile banking, researchers recommended that bank leaders and
developers should design the applications with user-friendly interfaces, graphical layouts,
and intuitive navigation to address potential user deterrents with using small screens to
perform banking activities (Priya et al., 2018; Ramos et al., 2017). In this study, I
and e-banking adoption. Researchers who use TAM as the theoretical framework
attempted to examine PU and PEOU as factors that affect customer intention to adopt e-
banking services (Bambore & Singla, 2017; Mortensona & Vidgen, 2016; Vejacka &
Stofa, 2017). Magotra (2016) conducted a study on mobile banking adoption in India.
The results from data collected on 413 respondents showed that PU and PEOU were
15
significant factors affecting the adoption of mobile banking. Similarly, Rahi, Ghani, and
Alnaser (2017) designed an empirical study using TAM as the theoretical framework to
explore the factors affecting Internet banking adoption in Pakistan. Rahi et al. analyzed
data from 265 respondents and found that PU and PEOU were important to increasing the
customer adoption rate. In subsequent studies, researchers used the TAM framework to
George (2018) examined the effects of PU and PEOU on the perceptions of users
to adopt Internet banking in Kerala, India. George used the random and convenience
sampling methods and collected data from 406 respondents. The results showed that PU
and PEOU had a direct effect on the use of Internet banking. Chandio et al. (2017)
investigated the constructs of the TAM framework to understand and predict user
behavioral intention to use online banking in Pakistan. Chandio et al. collected 310
responses, and the analysis showed that the impact of PU on intended behavior was more
significant than the effect of PEOU, but individual behavior intention to adopt online
banking was dependent on both PU and PEOU. I will, therefore, adopt the TAM
banking in Barbados.
Limitations of the TAM. Teo et al. (2015) found that several researchers
commented on the limitations of TAM. The theorists stated that the TAM framework did
not include economic, demographic, or external variables that might affect customer
intention to adopt technology (Venkatesh & Davis, 2000). Ajibadi (2018) argued that
16
TAM is concerned with personal use but did not address acceptance of technology in the
(2017), in their study on online banking acceptance in Bosnia, claimed that TAM lacked
incorporating social structure and acceptance. Other researchers claimed that the TAM
alone did not have adequate explanatory power to predict customers’ intentions to adopt
e-banking (Teo et al., 2015). Chechen, Yi-Jen, and Tung-Heng (2016), Rfieda and Mira
(2018), and Sinha and Mukherjee (2016) found that a combined model using TAM and
diffusion of innovation (DOI) had a better explanatory power instead of the TAM
their studies on e-banking adoption (Chandio et al., 2017; George, 2018; Patel & Patel,
2018; Priya et al., 2018; Yaseen & El Qirem, 2018). Similarly, researchers cited the
generalization and validity of the findings in their studies using the TAM framework as a
limitation of their research (Aboobucker & Bao, 2018; Chandio et al., 2017; Priya et al.,
2018; Ramos et al., 2018; Yaseen & El-Qirem, 2018). Researchers therefore sought to
TAM framework to predict customer intention to adopt e-banking services and included
other external variables to strengthen the model (Chauhan, 2015; George, 2018; Kaushik
& Rahman, 2015; Novita, 2017; Rawashdeh, 2015; Shaikh & Karjaluoto, 2015;
Cristovao-Verissimo, 2016; Yaseen & El Qirem, 2018). The variables most frequently
examined included perceived risk, security, and trust (Alkailani, 2016; Mansour, 2016;
Liebana-Cabanillas et al., 2017; Sinha & Mukherjee, 2016). Sharma et al. (2015)
17
extended the TAM model to include service quality and trust in their study to explore the
determinants of Internet banking adoption. The authors collected data from 110 Internet
banking users to analyze and concluded that PU, PEOU, service quality, and trust were
Internet banking in Malaysia. The results from 413 respondents showed that PU, PEOU,
using Internet banking. Danurdoro and Wulandari (2016) surveyed 96 students to explore
the effects of PU, PEOU, subjective norm, and experience on students’ intention to adopt
Internet banking in Indonesia. The results showed that PEOU and experience
impact of PU and subjective norm was insignificant. Ozlen and Djedovic (2017)
extended TAM to include perceived system security and perceived system quality.
Despite researchers’ efforts to modify the TAM to strengthen their findings, limitations
remained evident.
include moderating factors such as gender, age, and income (Cocosila & Trabelsi, 2016;
Danyali, 2018; Liebana-Cabanilla et al., 2016; Ramos et al., 2018). Some researchers
variables (Aboobucker & Bao, 2018; Chandio et al., 2017; George, 2018; Patel & Patel,
2018; Priya et al., 2018; Yaseen & El Qirem, 2018). Future research should include a
18
wider population to improve the generalizations of results (George & Kumar, 2015;
Sharma et al., 2015; Tseng, 2015) and additional independent constructs (Aboobucker &
Bao, 2018; Choudrie, Junior, McKenna, & Richter, 2018; George, 2018; Illia et al., 2015;
Mansour, 2016; Marakarkandy et al., 2017). Despite the above limitations, several
Rival Theories
Researchers used other theories to examine the factors that influence customer
frameworks included the theory of planned behavior (TPB; Ajzen, 1985), diffusion of
innovation (DOI; Roger, 1995), extended TAM (TAM2; Davis et al., 1992), unified
theory of acceptance and use of technology (UTAUT; Venkatesh, Morris, Davis, &
Davis, 2003), and extended unified theory of acceptance and use of technology
(UTAUT2; Venkatesh, Thong, & Xu, 2012). Critics of TAM also challenged theorists to
technology (Ajibadi, 2018; Ozlen & Djedovic, 2017; Teo et al., 2015). Alternate theories,
therefore, play an important role in helping researchers determine the factors that affect
improvement to the TRA previously proposed in 1975 by Fishbein and Ajzen that
19
explained human behavior. Ajzen argued that behavioral intention is the antecedent of
behavioral adoption (Gourlan, Bord, & Cousson-Gelie, 2019). Ajzen posited that three
constructs influence behavioral intention, namely, attitude towards the behavior (ATT),
subjective norm regarding the behavior (SN), and perceived control over the behavior
(PBC; Asadi, Hussin, & Saedi, 2016; Umer, Qazil, & Makhdoom, 2018). ATT could be
from others to adopt, and PBC highlights an individual’s ability to adopt (Chiu, Bool, &
Chiu, 2017; Gourlan et al., 2019; Yu, 2015). These assumptions were tested by
Researchers use the TPB to predict human behavior in the fields of information
Broring, 2018; Koul & Eydgahi, 2017), healthcare (Gourlan et al., 2019; Sussman &
Gifford, 2019), and entrepreneurial discipline (Anjum, Sharifi, Nazar, & Farrukh, 2018;
Gonzales, Jaen, Topa, & Moriano, 2019). Other researchers, however, cited limitations
with the TPB model that included the assumed linear relationship between the constructs
and the direct impact of intentions on physical activity (Gourlan et al., 2019). Yadav,
Chauhan, and Pathak, (2015) examined customer behavioral intentions to adopt Internet
banking and found a combination of the TPB and TAM models was a suitable approach.
In this study, I did not intend to examine behavioral intention; therefore, TPB was not
appropriate.
Diffusion of innovation theory (DIT or DOI). Roger (1995) developed the DOI
also called the epidemic model of adoption to explain how users adopt or reject
20
innovations for products and services through social influence or social contagion
(Chiyangwa & Alexander, 2016; Yapp, Balakrishna, Yeap, & Ganesan, 2018). DOI has
five characteristics that influence the adoption of innovation: (a) relative advantage, (b)
compatibility, (c) complexity, (d) trialability, and (e) observability (Chiyangwa &
Alexander, 2016; Yapp et al., 2018). The general assumption of DOI is that the
innovations are superior to, and replace, previous systems or models (Mullan, Bradley, &
Loane, 2017), and researchers tend to use either the preadoption or postadoption process
Sanchez-Perez & & Swinnen, 2015; Montazemi & Qahri-Saremi; 2015). Researchers
found that DOI applied to groups instead of individuals, with specific focus on timelines
(Chiyangwa & Alexander, 2016). I examined factors that influence individuals’ adoption
of technology, therefore, the DOI model was not suitable for this study.
Extended TAM (TAM2). Davis et al. (1992) developed the TAM2 to explain the
causal relationship between users’ internal beliefs: PU, PEOU, and perceived enjoyment
(PE), attitude, intentions, and usage behavior. TAM2 supplemented the limitation with
the TAM explanatory power regarding intrinsic motivators, such as trust, security, PE,
social influences, brand equity, and past use experience, and user acceptance of hedonic-
oriented information systems (Cheng, 2015; Chi, 2018; Li, Chung, & Fiore, 2017; Wang
& Goh, 2017). Davis et al. argued that PE and PU mediated the influence of PEOU, and
the three variables are relevant for users to adopt computer-based technology. Cheng
(2015) supported Davis et al.’s claim and found that both extrinsic factors (PU and
PEOU) and the intrinsic motivator (PE) influenced user intention to adopt m-learning.
21
Researchers used the TAM2 model to examine causal relationships between user
al., 2017; Yadav & Mahara, 2019), e-learning (Akman & Turhan, 2017; Chang, Hajiyev,
& Su, 2017; Cheng, 2015; To & Tang, 2019), healthcare (Ducey & Coovert, 2016),
gaming (Wang & Goh, 2017; Wang & Sun, 2016), and e-banking (Alkailani, 2016;
Goran & Jovana, 2017; Mansour, 2016; Patel & Patel, 2018) among various
demographical groups. Haider, Changchun, Akram, and Hussain (2016) adopted the
TAM2 in their study on e-banking because it was extensively used in recent studies and
therefore appropriate for their research on customer intention to adopt mobile banking. I
did not examine the relationship between intrinsic motivators as factors that influence
customer adoption of e-banking services in Barbados; therefore, the TAM2 theory was
al., (2003) developed the UTAUT model to increase the predictive power for behavioral
intention (BI) toward adoption of technology (Teo et al., 2015; Wang, Cho, & Denton,
theories, namely, TRA, TAM, IDT, TPB, motivational theory (MM), a combination of
the TAM and TPB models, a model of PC utilization (MPCU), and social cognition
theory (SCT) (Tan & Lau, 2016; Teo et al., 2015; Maduku, 2017). The UTAUT model
has four core constructs: (a) performance expectancy (PE), (b) effort expectancy (EE), (c)
social influence (SI) to determine customer behavioral intention, and (d) facilitating
condition (FC) to determine use behavior (Lee, Lin, Ma, & Wu, 2017; Tan & Lau, 2016;
22
Teo et al., 2015; Venkatesh et al., 2003). The model also incorporates four moderating
variables: gender, age, experience, and voluntariness of use (Tan & Lau, 2016).
Venkatesh et al. claimed that the UTAUT model has the highest explanatory power and
capability of explaining 70% of the variance in BI to adopt and 50% in of the variance in
technology use (Maduku, 2016; Yaseen & El Qirem, 2018). Therefore, the UTAUT
in e-banking (Bhativasevi, 2016; Savic & Pesterac, 2018), e-commerce (Blaise, Halloran,
& Munch-Nick, 2018; Sanchez-Torres et al., 2017), and e-health (Kurila, Lazuras, &
Ketikidis, 2016). While the UTAUT model has been extensively used in current studies,
researchers modified the model to include other variables such as computer anxiety
(Cimperman, Brencic, & Trkman, 2016; Nysveen & Pedersen, 2016) and trust (Warsame
& Ireri, 2018) to increase the predictability of customer behavioral intention to adoption
technology. Other researchers added security, risk, and task-technology fit (Tarhini, El-
Masri, Ali, & Seranno, 2015), or perceived credibility, cost, and convenience (Bhatiasevi,
2016) to determine the degree of influence other variables had on customer adoption of
technology. In recent studies, researchers combined UTAUT with the TAM model to
better explain user intentions to adopt new technology (Ali & Arshad, 2016). Kuila et al.
recommended the UTAUT model because they found that PE and EE within the model
were similar to PU and PEOU in the TAM model, therefore, I did not use the UTAUT
Venkatesh et al. (2012) created the UTAUT2 model to study technology acceptance and
use in a customer context. The UTAUT2 model has three additional new constructs: (a)
habit, (b) hedonic motivation, and (c) price value to determine customer usage of
technology to the existing four variables in the UTAUT model (Farah, Hasni & Abbas,
2018; Yaseen & Al Qirem, 2018). The UTAUT2 model also incorporates individual,
intention to adopt systems (Farah et al., 2018). The theorists claimed that the UTAUT2
model enhanced the variance explained in technology use from 40% to 52% in the
UTAUT model to 56% to 74% for behavioral intention (Gharaibeh & Arshad, 2018;
Yaseen & Al- Qirem, 2018). Thus, the UTAUT2 model was appropriate for examining
studies in e-banking (Alalwan et al., 2018; Baabdullah, Alalwan, Rana, Kizgin, &
Dwivedi, 2019; Farah et al., 2018), m-commerce (Blake, Neuendorf, LaRosac, Luming,
Hudzinski, & Hu, 2017; Shaw & Sergueeva, 2019), and mobile learning (El-Masri &
Tarhini, 2017). According to Farrah et al. (2018), the UTAUT2 model could strengthen
the predictive power of customer technology adoption if it included trust and perceived
risk. There are mixed researchers’ views on the application of the UTAUT2 model to
research in the adoption of e-banking. Yaseen and Al Qirem (2018) claimed that there
was limited use of the UTAUT2 model in e-banking adoption studies, while Sanchez-
Torres et al. (2017) noted that the UTAUT2 model was extensively used in e-banking
24
adoption. According to Tak and Pankar (2016), there is limited research on the use of the
UTAUT2 model in studies on adoption of health apps, mobile payments, and mobile
learning. For this study, I did not use the UTAUT2 model as the theoretical framework
because I did not intend to examine customer behavioral intentions to adopt e-banking
services in Barbados.
Measurement
The adoption of a suitable measurement tool will impact the outcome of a study.
When researchers choose to develop surveys using references from the extant literature, it
signifies ownership of the survey design, but the process could be time-consuming, and
the instruments must be tested using a pilot study to ensure that the reliability and validity
of the instrument are not compromised (Clements & Boyle, 2018; Shaw & Sergueeva,
2019). Ramos et al. (2018) found that survey instruments are the most popular
measurement tool for data collection in quantitative studies. In prior research on customer
al., 2015) and paper-based surveys (Al-Jabari, 2015; Farah et al., 2018; Maduku, 2017;
Tan & Lau, 2016) as the primary data collection instruments. Several researchers used
the TAM survey in their studies (Malaquias & Hwang, 2019; Mansour, 2016; Patel &
Patel, 2018; Priya et al., 2018) while others used previous researchers’ questionnaires to
customize their surveys (Alkailani, 2016; Kampakaki & Spyros, 2016; Teo et al., 2015;
Tseng, 2015).
TAM survey. Davis (1989) developed the TAM survey instrument to support his
TAM theory. Davis designed the TAM survey to test the significance of the constructs:
25
PU and PEOU, on customer adoption of technology. Davis claimed that the TAM survey
adequately captured the reasons why customers adopted new technology. The survey
consists of two scales with six questions each for both constructs, for a total of 12
questions. One scale consists of a score relative to the impact of the PU inclusive of (a)
systems, (e) ease of doing tasks, and (f) useful of systems. The other scale consists of the
attributes for PEOU: (a) meets needs of user, (b) easy to understand, (c) flexible, (d)
improves user skills, and (e) easy to use (Davis, 1989; Malaquias & Hwang, 2019; Priya
et al., 2018). The questions aligned to the TAM theory appear on an ordinal scale, with a
7-point Likert scale with responses ranging from extremely likely to extremely unlikely. In
transportation, and cloud computing, researchers used the questions on PU and PEOU in
the TAM survey (Bollinger, Mills, White, & Kohyama, 2015) or extended the TAM
survey to include questions for additional variables (Mansour, 2016; Patel & Patel, 2018).
The TAM survey also formed the basis for several research studies on customer adoption
of electronic banking in developed and developing countries (Akhisar, Tunay, & Tunay,
2015; Sanchez-Torres et al., 2018). The TAM survey was, therefore, relevant for this
study.
The reliability of the TAM survey instrument has a Cronbach’s alpha value of
.843 (Olufemi & Ezekiel; 2013). Priya et al. (2018) used the TAM survey to examine the
factors that affected mobile banking adoption among 269 young Indian consumers. The
scale had composite reliability >0.7, which met the recommended minimum requirement
26
of .70 (Heale & Twycross; 2015). Malaquias and Hwang (2019) used the TAM survey to
Brazil and the United States. The authors found the scale to have internal reliability with
a lower bound of 0.075 and upper bound of 0.092. While most researchers used the TAM
questionnaires from the extant literature to design their surveys (Abbasi, Kamran, &
Customized online surveys. Researchers who used the TAM theory as their
foundational framework designed surveys from the extant literature instead of using the
technology (Abbasi et al., 2017; Dakduk, Ter, Santala, Molina, & Malave, 2016; Lee,
Yang & Johnson, 2017; Mokhtar, Katan, & Hidayat-ur-Rehman, 2018; Wang, Wang &
Wu, 2015). Conversely, other researchers who chose various theoretical frameworks to
adopt questions to design their surveys, for example, Asadi, Nilashi, Husin, and
studies, and Roy (2017) adopted questions from four previous studies on customer
cab services. Likewise, Sarmah, Rahman, and Kamboj (2017) developed their survey
design surveys using questions from the extant literature (Alkailani, 2016; Malaquias &
Hwang, 2019; Olufemi & Ezekiel, 2017; Pamungkas & Kusuma, 2017). Asadi et al.
27
(2017) found that using self-developed surveys influenced by questions adapted from
previous research strengthened the validity of their study. Researchers also used paper-
researchers designed paper-based surveys from the extant literature and adopted similar
methodologies used for online surveys to measure the reliability and validity of the
also used the analysis of data collected from paper-based surveys to discuss the findings
they are available to respond to participants’ queries unlike the impersonal nature of
online surveys (Agarwal, Paswan, Fulpagare, Sinha, Thamarangsi, & Rani, 2018; Al-
Jabari, 2015; Farah et al., 2018; Maduku, 2017; Tan & Lau, 2016). Al-Jabari (2015)
conducted a study to understand the factors that influence customer intention to adopt
mobile banking in Saudi Arabia. The author used a paper-based survey to collect data
from 253 participants. The findings showed that compatibility had a significant influence
on customer intention to adopt mobile banking, while perceived risk was a deterrent.
Paper-based surveys, however, require manual data entry of participants’ responses into a
statistical software for data analysis, whereas online surveys could be exported
electronically for data analysis (Agarwal et al., 2018: Braekman et al., 2018). Therefore,
28
in this study, I used a web-based survey to collect data using the TAM instrument to
examine the impact of the two constructs (PU and PEOU) on customer adoption of e-
banking in Barbados.
Barbados. From my review of the extant literature researchers modified the TAM model
to include other variables from various theoretical frameworks, such as DOI, UTAUT,
Spieth, & Heidenreich, 2018; Laukkanen, 2016; Oruc & Tatar, 2017; Sharma, Mangla,
Luthra, Al-Salti, 2018). The most extensively researched variables were trust, risk or
perceived risk, social influence, and self-efficacy. I discussed the above variables and
Trust. While trust is not an independent variable of this study, it has been widely
researched as a factor that could negatively impacts customer adoption of e-banking and
e-commerce (Asni, Nasir, Yunus, & Nurdasila, 2018; Kaabachi, Mrad, & O’Leary, 2018;
health, sports, finance, and e-commerce (Malaquais & Hwang, 2016; Wang,
Ngamsiriudom, & Hsieh, 2015). Pamungkas and Kusuma (2017) claimed that researchers
are yet to agree a definition for trust due to its complexity. Yu and Asgarkhani (2015)
support this claim noting that trust is a multidimensional concept, and defined trust in e-
29
banking as a customer’s willingness to conduct online transactions with the belief that
banks will fulfil their obligations, despite having the ability to monitor the banks’ actions.
Damghanian, Zarei, and Kojuri (2016) noted that customers’ trust in banks increase if
they believe that banks have the required knowledge, experience, and skills, and consider
& Walsh, 2019; Sharma & Sharma, 2019). Chiu et al. (2017) collected and analyzed data
from 314 non-users of mobile banking in the Philippines and found that trust significantly
influenced non-user behavioral intention to adopt mobile banking. Malaquais and Hwang
(2017) examined the impact of trust as an antecedent to the utilitarian (online banking,
Malaquais and Hwang collected data from 1,080 respondents trust had a positive
relationship utilitarian values for customers who used their mobile devices for online
banking and e-commerce. Conversely, the relationship between hedonic values and trust
banking in Taiwan and New Zealand sampling 510 and 122 respondents respectively, and
found that despite cultural differences, customer trust is a significant factor in adoption of
30
e-banking services. Trust, therefore, may affect customer adoption of e-banking services
in Barbados.
Risk or perceived risk. Researchers claimed that risk is a barrier to the adoption
potential losses. The higher the possibility of losses, the more risk an individual perceives
(Arora & Kaur, 2018). Risk cannot be measured objectively, therefore theorists focused
on individual perceived risk (Akram, Malik, Shareef, & Goraya, 2019). Bauer (1960)
developed the perceived risk theory (PRT) to explain the customer risk-increasing or risk-
and social (Arora & Kaur, 2018; Khedmatgozar & Shahnazi, 2018; Marafon, Basso,
Espartel, de Barcello, & Rech, 2017). In the context of e-banking, perceived risk is
associated with customer uncertainty or lack of trust in e-banking systems, the higher the
uncertainty, the less-likely they will purchase or adopt electronic products or services
(Tandon, Kiran, & Sah, 2018; Wei, Wang, Zhu, Xue, & Chen, 2018).
had a negative influence on customer adoption (Jansen, van Schaik, 2018). Chauhan,
Yadav, and Choudhary (2018) conducted a study on the impact of perceived risk on
Internet banking adoption in India. Chauhan et al. used data collected from 487
respondents, and found that perceived risk, negatively impacted adoption of Internet
banking. Khedmatgozar and Shahnazi (2018) examined the dimensions of perceived risk
on 442 corporate clients’ intention to adopt Internet banking in Iran, and found that
31
performance, financial, privacy, security, time, and social risks negatively impacted the
clients’ intention to adopt Internet banking. While perceived risk is not an independent
variable in this study, Marafon et al. (2017) posit that perceived risk is implied in the PU
study, the concept has been widely researched as a factor that affects customer adoption
of e-banking (Adapaa & Roy, 2017; Chaouali, Yahia, & Souiden, 2016; Matsuo, Minami,
& Matsuyama, 2018). Kelman (1958) developed the social influence theory to explain the
claimed that individual’s beliefs, attitudes, and behaviors are influenced by compliance,
internalization, and identification (Chaouali et al., 2016). Social influence is also known
important persons believes he or she should use a new technology system (Chaouali et
al., 2016; Oliviera, Thomas, Baptista, & Campos, 2016; Ventatesh et al., 2003). Social
2017). Social influence is usually associated with TPB and consists of two factors:
between social influence and customer behavioral intention to adopt the new technology
32
(Kaabachi et al., 2018; Sitorus, Govindaraju, Wiratmadja, & Sudirman, 2018). Matsuo et
al. (2018) collected data from 616 respondents in Japan and found that social influence
inexperienced users of Internet banking. Mortimer, Neale, Hasan, and Dunphy (2015)
modified the TAM model to include social influence as a variable in their comparative
study on mobile banking adoption in Thailand and Australia. Mortimer et al. analyzed
responses from 348 respondents and concluded that social influence has a significant
Makanyeza (2017) also identified social influence has a factor that influence mobile
banking adoption in Zimbabwe after analysis of data collected from 232 customers in the
banking industry. Rahi, Ghani, Alnaser, and Ngah (2018) used the UTAUT model in
their study on customer behavioral intentions to adopt Internet banking in Malaysia. Rahn
et al. collected data from 398 users and concluded that social influence was a significant
influence on Internet banking adoption. Therefore, social influence may affect customer
intentions to adopt of e-banking (Susanto, Chang, & Ha, 2016). Bandura (1986)
developed the concept of self-efficacy as part of his social cognitive theory which sought
to explain how people learn and interact with others. The key concepts of self-efficacy
are efficacy expectations and response outcome expectations. Shao (2018) defined self-
outcome (Mohammadi, 2015). Orazi and Pizzetti (2015) also highlighted self-efficacy as
however, other researchers found that self-efficacy affected customer adoption of online
banking (Mohammadi, 2015). Singh and Srivastava (2017) examined six factors
(computer self-efficacy, PEOU, trust, security, social influence, perceived financial cost)
to predict intention to adopt mobile banking in India, and from analysis of the data from
855 respondents, found that computer self-efficacy was the second most important factor
to influence customer intention to adopt mobile banking. Likewise, Alalwan et al. (2016)
in their study on the influence of PU, trust, self-efficacy on Jordanian customers to adopt
telebanking, collected data from 323 respondents and concluded that self-efficacy had a
intention to adopt mobile banking in Jordan and from analysis of 343 responses, found
claimed that perceived self-efficacy is similar to PU, whereas other researchers suggested
Internet banking, mobile banking, point-of-sale terminal (POS), and automated teller
machines (ATMs) to meet the customer demands, reduce high branch-based transactions,
and sustain competitive advantage (Akhisar et al., 2015; Belas et al., 2016; Dyer,
Godfrey, Jensen, & Bryce, 2016; Mishra & Singh, 2015; Rad et al., 2017; Sanchez-
Torres et al., 2018). Akhisar et al. (2015), Sanchez-Torres et al. (2018) and van der Boor,
Oliveira, and Veloso (2014) agreed that technology innovation helped banking executives
Akhisar et al. (2015) and van der Boor et al. (2014) concluded that there was a limited
and other financial institutions to offer customers fast and easy access to financial
services and transactions (Chandio et al., 2017; Mujinga, Eloff, & Kroeze, 2018; Sharma
& Lenka, 2015). Kiljan, Simoens, de Cock, van Eekelen, and Vranken, (2016) noted that
online banking became accessible in the late 1990s and grew exponentially from desktop
computers to mobile devices. Bank leaders also view online banking as a cost-effective
Researchers found that security is one of the primary customers’ concerns with
online banking due to threats of cybercrimes (Alghazo, Kazmi, & Latif, 2017; Ali, 2019).
35
Bank leaders, therefore, continue to invest millions annually to improve their online
password integrity, data encryption, privacy, and security (Kilgan et al., 2016; Malik &
Oberoi, 2017). Alghazo et al. (2017) also encouraged bank leaders to help users protect
password constructs, and frequent updates to their browsers. In this study on e-banking
conduct banking transactions (funds transfers, enquiring services, instant payments, and
bill payments) using a mobile device (Gupta, 2018; Jamshidi, Keshavarz, Kazemi, &
Mohammadian, 2018; Tam & Oliveira, 2017) especially the unbanked (Mustafa, 2015) or
those who are constrained by distance and transportation issues (Amran, Mohamed, &
Yusuf, 2018; Yadav, 2016). Gupta found that the decreasing costs of mobile handsets in
India might further increase the mobile penetration rate beyond 90%, while Trialah et al.
(2018) noted that mobile banking users in Indonesia reached 80% which was above
global average.
Some researchers claimed that despite the high penetration of mobile phones,
customer adoption of mobile banking is low (Kansal & Changanti, 2018). Masrek,
Mohamed, Daud, and Omar (2014) found that trust was the primary issue affecting
customer adoption of mobile banking. Shareef, Baabdullah, Dutta, Kumar, & Dwivedi
(2018) supported Masrek et al.’s claim and argued that while communication with service
providers and security were concerns of customers, trust remained the primary issue for
36
mobile banking adoption. Other researchers purported that bank leaders could benefit
from mobile banking by promoting better efficiency and service quality (Malaquias &
Hwang, 2019). I examined mobile banking as one of the e-banking services in this study.
technology and electronics (Gumus, Apak, Gumus, Gumus, & Gumus, 2015; Narteh,
2015). Banker leaders posit the ATM as a convenient alternative to in-branch banking for
customers to pay bills, transfer funds, make deposits, and withdraw cash (Farajzadeh,
2015; Ram & Goyal, 2016). The technological advances in ATMs evolved over past
decade to convert traditional ATMs into smart ATMs, multivendor ATMs, and ATMs for
Despite the benefits of ATMs, there were factors that impacted customer
adoption. While Tade and Adeniyi (2017) acknowledged the benefits of ATMs, they
found a high degree of fraud associated the machines that impacted the financial industry
in India. In their study on elderly customers adoption of ATMs, Huang, Yang, Yang, and
Taifeng (2019) found that that introduction of graphics as a learning mechanism did not
increase customer usage. Researchers also highlighted ATMs were largely inefficient
(Farajzaheh, 2015). In this study I did not examine ATMs as an e-banking service.
device or integrated system where customer swipe a debit or credit card to pay merchants
for goods and services without using cash (Farajzadeh, 2016; Olufemi & Ezekiel, 2017;
payments in China and Germany, Korella and Li (2018) found that credit and debit
37
transactions at POS terminals were the dominant payment method, whereas in China,
consumers adopted non-bank options such as Alipay and WeChat at POS terminals.
Similarly, von Solms, noted that POS terminals were the most frequently used method for
cashless transactions in South Africa. Conversely, Farajzadeh found that of the 600 POS
terminals sampled from the Bank Melli Iran, only 24 or 4% were efficient. Researchers
also claimed that there should be ongoing maintenance, such as regular inspections and
renewal of components for POS terminals, to prevent customer dissatisfaction and losses
for the merchants (Fukushige, Murai, & Kobayashi, 2018). Despite the challenges
associated with POS terminals, researchers argued that researchers and practitioners
could use the data from the terminals as inputs to predict consumer consumption (Duarte,
Rodrigues, & Rua, 2017). I did not examine customer adoption of POS terminals in this
study.
Retail banking is no longer a concept associated with brick and mortar institutions
where customers visit to perform financial transactions or inquiries OTC. With the
services for their customers to do business anytime and anywhere they chose to bank,
however, customer adoption rates in developing countries remained low (Al-Ajam &
Nor, 2015; Ozuem, Howell & Lancaster, 2018). Barbados is one of the developing
countries in the 15 CARICOM member states with a land mass of 166 square miles, a
population size of 286,000, and fiscal deficit of 3% of GDP (Central Bank of Barbados,
2018; The World Bank, n.d). Barbados has an active banking industry comprising of a
38
central bank, commercial banks, merchant banks, finance companies, trust companies,
credit unions, insurance companies, asset management firms, and a stock exchange in its
infancy stage (Ghartey, 2018; Wood & Clement, 2015). However, the country’s financial
development and economic growth outlook remain weak (Central Bank of Barbados,
enhance its financial market development and reverse the negative rate (Ghartey, 2018).
Like most developing countries in the region, Barbados’ banking industry is rapidly
evolving with the introduction of digital technology, but there is limited research on e-
In 1995, the Central Bank of Barbados issued a report outlining issues anticipated
researchers found that Barbados was one of four countries that recorded the highest usage
Licker, 2006) and digital currency using bitcoin (Wood & Brathwaite, 2016). In 2017,
Barbados recorded 120,471 fixed phone subscribers and 329,565 mobile phone
subscriptions, but the adoption rates remain relatively low in comparison 81,761 Internet
users (The World Bank, n.d.). I sought to address the gap in research on e-banking
39
adoption in Barbados and contribute to the extant literature on the topic of e-banking
adoption.
applications to reduce in-branch operational costs and risks associated with manual
developed and developing countries, therefore, produced varying results on the impact of
and customer demographics (Akhisar et al., 2015; van der Boor et al., 2014).
Sanchez-Torres et al., 2018; van der Boor et al., 2014). The studies conducted on banks
in the United States of America and Europe revealed that technology-based banking
services, such as Internet banking increased the assets quality of banks thereby increasing
profitability (Akhisar et al., 2015). On the other hand, van der Boor et al. (2014) research
highlighted increase profitability for the banks located in France that introduced mobile
banking services their customers. There were mixed findings, however, in developing
that there were mixed results. Akhisar et al. (2015) found that the technology
reluctant to use the electronic banking services primarily due to unfamiliarity with the
technology and their preference for face-to-face banking (Akhisar et al., 2015). In
developing countries, therefore, the impact of technology-based banking was positive for
Northouse (2016) and Saxena (2014) claimed that transformational leaders have a
unique vision for the future of their organizations and motivate followers to be creative
and innovative. Dyer et al. (2016) noted that transformational leaders possess the ability
economic profitability. Likewise, McCleskey (2014) agreed with fellow researchers and
economic performance (Savino, Messeni Petruzzelli, & Albino, 2017) whereas others
Kaiser & Egan, 2013; Styles & Goddard, 2014). The strategic planning process helps
leaders formulate and effectively implement innovation technology. Felype Neis, Pereira,
and Maccari (2016) concluded that senior bank executives align their strategic planning
Kiziloglu (2015) supported Felype Neis et al. (2016) findings but expanded their
objectives for e-banking adoption (Gupta & Garg, 2015). Gupta and Garg (2015) found
that optimism and innovativeness were key drivers for technological readiness, while
discomfort and insecurity were the main inhibitors of technological readiness. In other
strategy to provide quicker, easier, and more reliable financial services to customers
(Ozuem et al., 2018). Ozuem et al. (2018) conducted a study to examine the themes
that efficiency, usability, control, and security were significant drivers for the
implementation of Internet banking. Al-Ajam and Nor (2015) investigated the challenges
with Internet banking adoption in Yemen, and concluded that bank managers’
Internet banking would help facilitate their strategic market planning objectives.
42
While there remained a gap in extant research on the relationship between
other factors such as culture, communication, leadership styles, regulatory, and external
2016; Sanchez-Torres et al., 2018). The inclusion of the above variables would help
leaders determine the overall effectiveness of strategic planning on innovation and the
planning would also help banking executives implement the right diversification
capital, and underwriting insurance as alternative solutions to increase revenue, but the
above activities reduced banks’ performance. On the other hand, Mustafa (2015)
stakeholders.
43
From the literature research, I observed that the reduction in high-cost branch-
historically there was empirical evidence of success in developed countries and most
profitability, but banking executives are encouraged to develop business strategies that
will positively impact their banks’ revenues. In this study, I focused on understanding the
factors that affect adopt e-banking services in Barbados using the TAM as the contextual
seek to test hypotheses, examine causal relationships between or amongst variables, and
predict outcomes using surveys and questionnaires (Else-Quest & Hyde, 2016; Park &
affecting user adoption of e-banking (Belas et al., 2015; Kurila et al., 2016; Padmaja et
al., 2017; van Tonder et al., 2018; Zallaghi, 2018). Sanchez-Torres et al. (2018) examined
the impact of trust, performance expectancy, effort expectancy, and government support
expectancy, and effort expectancy had a positive impact on e-banking adoption. the
website social feature, and e-customer service were significant factors that influenced e-
banking adoption. In this study, I examined the factors that affect e-banking adoption in
interviews or direct observations (Park & Park, 2016). Qualitative researchers identify
underlying reasons and motivations to provide insights for a problem, generate ideas for
later quantitative research, and uncover trends in thoughts and opinions (Park & Park,
2016; Peticca-Harris, deGama, & Elias, 2016). Patel and Brown (2016) conducted a
qualitative phenomenological study to investigate the factors that influenced the choice of
adopting of a particular banking channel. The authors found that comparative advantages
channel before selection (Patel & Brown, 2016). A qualitative method was not suitable
for this study because I did not attempt to understand the underlying reasons or
research methods and used to investigate phenomena at the micro and macro levels
(Whiteman, 2015). In mixed method studies, researchers collect statistical data using
Mauceri, 2016). Shetty and Sumalatha (2015) conducted a mixed method empirical study
associated with e-banking in Brahmavar. The findings showed that customers were
satisfied with the convenience of e-banking but dissatisfied with the threat of fraud and
bank related errors (Shetty & Sumalatha, 2015). In this study, a mixed methods approach
Transition
between PU, PEOU, and e-banking adoption. In section 1, I provided an overview of the
foundational aspects of the study that included the problem and purpose statements, the
nature of the study, and the research question. Section 1 also contained the theoretical
framework, the significance of the study, and the literature review relative to the research
question. Section 2 contained the role of the researcher, the study participants, the
methodology, and design for this study, as well as the ethical procedures. The section
instruments, data organization, and analysis techniques, concluding with reliability and
The project section of the study begins with a reinstatement of the purpose of the
study. I described my role as the researcher and the selection criteria for prospective
participants. I discussed the research methodology and design and justified my selection
PU, PEOU, and customer adoption of digital banking services in Barbados. Section 2 also
contains a discussion on the population and sampling, data collection instruments, and the
techniques that l used to collect, organize, and analyze the data. I concluded the section
with a discussion on the validity and reliability of the instruments used in the study.
Purpose Statement
Barbados. The predictor variables were PU and PEOU. The dependent variable was e-
banking adoption. The target population was retail banking customers in Barbados with
access to smartphones, tablets, laptops, or desktop computers who had at least one bank
account. The implications for social change included the potential to provide an improved
select participants, analyze the data using statistical or mathematical techniques, and
47
report findings to validate the research hypotheses (Saunders et al., 2015, Zyphur &
Pierides, 2017). Saunders et al. (2015) suggested that researchers recognized personal
biases which could impact the data collection process. In this quantitative correlational
study, I collected, organized, analyzed, and interpreted data from convenience sampling
banking services. I used a validated instrument to collect data and tested the research
hypotheses using computerized statistical software to maintain data integrity during the
banks, and a user of e-banking services. I used convenience sampling to collect data,
therefore, I had no relationship with the participants. I examined the factors that
Researchers must adhere to the ethical principle, rules, guidelines, and protocols
that govern research studies. The Belmont Report (U.S. Department of Health and
Human Services, 1979), states that researchers must understand the boundaries between
practice and research, comply with the ethical standards and guidelines to protect
their research studies through means of informed consent, risk mitigation, and selection
of participants.
48
Saunders et al. (2015) noted that researchers should submit their proposals for
ethical review and comply with a university’s ethical guidelines. To conduct this study, I
followed the ethical principles and guidelines outlined in the Belmont report and Walden
Review Board (IRB) at Walden University before I commenced the data collection
process. In the introductory statement of the survey, I outlined the purpose of the research
study, the rights of participants, and obtained their informed consent to participate in the
encouraged open and honest feedback in the survey and confirmed anonymity of the
responses to alleviate concerns with bias that could negatively impact the reliability of
Participants
The selection of appropriate participants who align with the research question was
critical to the outcome of this study. Researchers use eligibility criteria to select qualified
participants for their studies (Saunders et al., 2015; Yin, 2018). Participants’ eligibility
criteria include demographics (age, gender, race, education level, employment status,
relevant to the research study (Farah et al., 2018; Jansen & van Schaik, 2018; Kiziloglu,
2015; Malaquias & Hwang, 2019; Sinha & Mukherjee, 2016; Tan & Lau, 2016).
Researchers who aligned the eligibility criteria to the research question minimized the
risk associated with misrepresentation of participants in the selection process and created
a standardized approach to ensure all participants met the same eligibility criteria (Yin,
49
2018). For this study, the eligibility criteria included (a) individuals who lived in
Barbados, (b) owned at least one bank account at any of the retail banks, (c) possessed a
mobile smartphone, laptop, and/or a desktop computer, (d) used e-banking services
Active use of e-banking services could indicate customers’ satisfaction with this
form of banking (Alkailani, 2016; Danyali, 2018; Olufemi & Ezekiel, 2017). To gain
face-to-face handouts, telephone interviews, or social media networks (Jansen & van
Schaik, 2018; Ozlen & Djedovic, 2017; Rodrigues et al., 2016; Shaw & Sergueeva,
2019). Symonds (2011) claimed that SurveyMonkey was an appropriate data collection
tool for researchers to use to gather participants’ responses and opinions, while
Hendricks, Duking, and Mellalieu, (2016) found that Twitter was a suitable tool for
survey-based research. For this study, I used SurveyMonkey to distribute the online
questionnaires via social media networks (Twitter, LinkedIn, and Facebook) to gather
improve the quality of interactions (Srinivasan, Loft, Jesani, Johari, & Sarojini, 2016;
Yin, 2018). To establish a working relationship with the participants, I introduced myself,
described my role as the researcher, the purpose of the study, and indicated that
participation is voluntary. I also stated that participants’ responses were anonymous and
confidential as per researchers’ recommendations (Alkailani, 2016; Jansen & van Schaik,
consented to take the survey to proceed with completion of the questionnaire. Participants
had access to IRB’s email and telephone contact details to reach them for clarification
before the survey process. I also granted participants the option to obtain a copy of the
survey when completed. Participants’ responses helped me determined the factors that
Researchers select the appropriate research method and design to support the
outcome of their studies. Saunders et al. (2015) discussed the three research methods: (a)
quantitative, (b) qualitative, and (c) mixed methods that researchers use to collect data for
analysis. Researchers also adopt a design approach that aligns with the research method
Kelemen & Rumens, 2012; Yin, 2018). In this study, I employed a quantitative method
Research Method
between two or more variables (Halcomb & Hickman, 2015; Karadas, Celik, Serpen, &
Toksoy, 2015; Onen, 2016). Babones (2016) claimed that quantitative research aligns
observations to determine the outcome of the study. Researchers also use a quantitative
method to gather data using a sampling approach that aligns with the research questions
51
(Apuke, 2017; Kohler, Landis, & Cortina, 2017) to generalize the results for a specific
population (Danyali, 2018; Shaw & Sergueeva, 2019). In recent research studies on
appropriate to test their hypotheses regarding the relationships between the independent
and dependent variables (George & Kumar, 2015; Sinha & Mukherjee, 2016; Teo, Tan,
Ooi, Hew, & Yew, 2015; Tseng, 2015). In this study, I used a quantitative research
method to examine the statistical relationships between PU, PEOU, and customer
address the problem or situation (Cardno, 2018; Morse, 2015; Yin, 2018). A qualitative
methodology aligns with an interpretive philosophy where the researchers seek to make
sense and meaning of phenomena using an inductive approach (Jamali, 2018; Saunders et
al., 2015; Yin, 2018). Qualitative researchers also rely on their participants’ opinions,
the findings on a specific population (Jamali, 2018; Johnson, 2015; Kelley-Quon, 2018;
Reis, Amorim, & Melao, 2019). I aimed to examine the statistical relationship between
variables; therefore, a qualitative method was not a suitable research method for this
study.
quantitative method to collect and analyze data to produce conclusive results on their
overarching research question (Archibald & Gerber, 2018; Hitchcock et al., 2015; Thiele,
52
Pope, Singleton, & Stanistreet, 2018). Researchers adopt a mixed method approach to
understand and solve complex social phenomena using a deductive and inductive
(Alavi, Archibald, McMaster, Lopez, & Cleary, 2018; Mekki, Hallberg, & Oye, 2018;
Thiele et al., 2018). According to Archibald and Gerber (2018), mixed-method research
address the associated issues. I did not select a mixed method approach because I did not
research question.
Research Design
Researchers select a research design that aligns with establishing a framework for
data structuring, analysis, and interpretation (Bryman, 2016; Saunders et al., 2015; Yin,
2018). There are three main types of research designs in quantitative studies: (a)
correlational, (b) experimental, and (c) quasiexperimental (Johnson & Christensen, 2017;
McCusker & Gunaydin, 2015). While each design requires power analysis to select the
accurate sample sizes, differences exist between each design technique (Johnson &
for researchers to examine the statistical relationship between independent and dependent
variables; it does not imply causality and it incorporates multiple regression, logistic
regression, and discriminant analysis (Bryman, 2016; Johnson, & Christensen, 2017;
McCusker, & Gunaydin, 2015; Saunders et al., 2015; Yin, 2018). Researchers stated that
53
correlational studies involve data collection from specific populations (Bleske-Rechek,
Morrison, & Heidtke, 2015; Ladd, Roberts, & Dediu, 2015). In recent studies on
statistical relationship between the predictor and criterion variables (Afshan & Sharif,
2016; Ahmadi Danyali, 2018; Shareef et al., 2018; van Tonder, Petzer, van Vuuren, & De
Beer, 2018). In this quantitative research study, I used a correlational design to examine
the significance of the relationship between the PU, PEOU, and customer adoption of e-
between independent and criterion variables (Bryman, 2016; Saunders et al., 2015; Yin,
researchers use power analysis to determine the sample size (Omair, 2015; Rockers,
Thomas (2016) found that researchers use experimental design to manipulate the
groups of variables, use power analysis to determine the sample size, and manipulate the
independent variables to influence the study’s outcome (Omair, 2015; Rockers et al.,
2015; Zellmer-Bruhn et al., 2016). I did not attempt to investigate a cause and effect
Researchers identify the population for their studies to align with their research
topic. The population of this study consisted of adult individuals residing on the island of
Barbados. According to the World Bank (2017), the number of internet users in Barbados
represented 79.5% of the total population, and 118, 200 individuals were mobile banking
subscribers. Five retail banks are operating in Barbados with e-banking services, and
customers tend to own accounts at multiple banks (Central Bank of Barbados, 2019).
Other financial institutions include credit unions, insurance companies, and finance
agencies with limited online banking services. The target population included adults who
are retail banking customers with at least one bank account, owned a mobile smartphone,
and had access to online and mobile banking. Customers who conducted business only
with non-retail banking financial institutions did not form part of the target population
because of the limited access to e-banking services. The target population aligned with
the research question and was eligible to participate in the data collection process to help
determine the factors that influence customer adoption of e-banking services in Barbados.
sampling and probabilistic or random sampling (Bryman, 2016; Haegele & Hodge, 2015;
techniques: convenience, purposive, quota, and snowball (Bryman, 2016; Saunders et al.,
2015; Van Hoevan, Janssen, Roes, & Koffijberg, 2015), while the probabilistic method
includes simple random sampling, stratified sampling, systematic sampling, and cluster
sampling (Bryman, 2016; Haegele & Hodge, 2015; Saunders et al., 2015). Researchers
55
use nonprobabilistic sampling in quantitative studies to collect data in a cost-efficient
manner (Brick, 2015; Catania, Dolcini, Orellana, & Narayanan, 2015; Etikan, Musa, &
Alkassim, 2016; van Tonder et al., 2018), but theorists claimed that probabilistic
sampling is the better method for empirical data collection because researchers could
generalize their findings (Fielding, Beattie, O’Reilly, McMaster, & The AusQoL Group,
2016; Haegele & Hodge, 2015). For this study, I adopted a convenience sampling
technique to collect empirical data from the target population. In prior studies on the
participants who volunteered to complete their surveys (see Farah et al., 2018; Maduku,
2017; Marafon et al., 2018; Sharma et al., 2015; van Tonder et al., 2018).
The appropriate sample size creates reliable conclusive results (Hazra, & Gogtay,
sample size analysis in quantitative studies (Faul, Erdfelder, Buchner, & Lang, 2009;
Macfarlane et al., 2015). I conducted a power analysis using G*Power version 3.1.9
software to determine the appropriate sample size for this study. An a priori power
analysis, assuming a medium effect size (f² = .15), α = .15, and two predictor variables,
.80. Increasing the sample size to 146 will increase power to .99. Therefore, I sought
The effect size influences the research design (Bosco, Singh, Aguinis,
Field, & Pierce, 2015). Leppink, O’Sullivan, and Winston (2016) noted that effect
size varies from study to study; therefore, I used a medium effect size (f2 = .15) for
this study based on the analysis of Faul et al. (2009) where predictors are the
outcome measurement with a sample size of between 68 and 146 for data analysis.
Ethical Research
standards and guidelines that govern the rights of participants in the data collection
process. Nicolaides (2016) stated that the researcher should protect participants’
identities, interests, and rights throughout and following the data collection process. I
adhered to the guidelines in the Belmont Report (U.S. Department of Health and Human
Services, 1979) that outlines how to protect the rights of individuals, beneficence, and
justice. I also complied with Walden University’s IRB code of ethics procedures and
commenced the data collection phase after I received approval from IRB. Walden
57
University’s IRB approval number is 03-19-20-0752189 and it expires on March 18,
2021.
used social media to distribute the survey to adult individuals who might qualify to
participate in the study. I designed the consent form in the participants’ language to avoid
recommendations (see Afshan & Sharif, 2016). I administered the survey using
SurveyMonkey®, which has 24-hour firewall protection (Mahon, 2014; Symonds, 2011).
The first page of the survey required participants to indicate their consent to participate
willingly in the survey. The consent form included the purpose of the survey and stated
form to inform participants that I will store the data in an encrypted format on a secured
hard drive for 5 years. I granted access to the survey questionnaire after participants
confirmed that they read and understood the contents of the form.
The data collection process of this study was strictly voluntary. Harriss and
Atkinson (2015) stated that participants should be aware that they could withdraw from a
study at any time during the research process. I included a notice to eligible participants
of their right to withdraw at any time during the survey process. I did not request
participants to provide reasons for withdrawing nor did I invoke penalties or send follow
up reminder emails requesting that they reconsidered taking the survey. I provided
options for participants to withdraw from the survey by selecting “decline” to the consent
form, closing the survey, or by not responding to the questions. I sent email reminders on
58
the social networks for participants to complete the survey and used SurveyMonkey® to
save responses during the process. I deactivated the IP address tracer on SurveyMonkey®
to protect the identity of participants and for those who chose to withdraw from the
Researchers and academics are yet to agree if financial incentives make studies
more robust and ethical (Zutlevics, 2016). Resnik (2015) argued that while financial
incentives might increase participation in a research study, the risk of inducing and
studies on e-banking, researchers did not include incentives in their data collection
al., 2018; Mehrad & Mohammadi, 2017; Shareef et al. 2018; van Tonder et al., 2018). I
included a statement on the consent form indicating that there would be no financial
guidelines associated with protecting the rights and interests of participants in their
protecting the dignity and rights of human study participants. I produced evidence to
show I obtained permission granted from MIS Quarterly Carlson School of Management
University of Minnesota to adopt Davis’ (1989) TAM Final Measurement Scale for
59
Perceived Usefulness and Perceived Ease of Use. I also provided my IRB approval
measurement should align with the research question to produce accurate statistical
analyses (Saunders et al., 2015). Farah et al. (2018) and Thomas, Oenning, and de
Goulart (2018) recommended that researchers examine the extant literature for
academically validated instruments before creating a new instrument for primary data
development validated the TAM survey (see McCoy, Marks, Carr, & Mbarika, 2004;
Ong, Muniandy, Ong, Tang, & Phua, 2013), and it has been widely accepted by
collection (see Alkailani, 2016; Chauhan, 2015; Malaquias & Hwang, 2019; Ozlen &
Djedovic, 2017; Priya, Gandhi, & Shaikh, 2018; Ramos et al., 2018). The reliability of
the TAM survey instrument has a Cronbach’s alpha value of .843 (Ong et al., 2013). I
chose the TAM questionnaire due to its reliability and validity as a primary data
The TAM model has two exogenous scaled constructs: PU, PEOU, and two
endogenous scaled constructs: attitude (ATT) and behavioral intention (BI) to predict the
use of technology (Chauhan, 2015; Mansour, 2016; McCoy et al., 2004; Priya et al.,
based on the outcome from interaction with technology (Chauhan, 2015; Mansour, 2016;
60
Ozlen & Djedovic, 2017; Rodrigues et al., 2016). PU also measures the probability that
using technology would improve the way a user completes a task (Alkailani, 2016;
Chauhan, 2015; Mansour, 2016; Ozlen & Djedovic, 2017; Rodrigues et al., 2016). PEOU
defines the significance that a user believes that using technology would be effortless
thereby seeing it as useful (Alkailani, 2016; Chauhan, 2015; Mansour, 2016; Ozlen &
Djedovic, 2017; Rodrigues et al., 2016). Section 1 of the survey included demographic
attributes and experience. In section 2, I covered two subsections, one for the attributes
for PU: (a) speed of systems, (b) systems’ performance, (c) productivity, (d) effectiveness
of systems, (e) ease of doing tasks, and (f) useful of systems. The other subsection
consisted of the attributes for PEOU: (a) meets the needs of users, (b) easy to understand,
(c) flexible, (d) improves user skills, and (e) easy to use. I measured the constructs with
an ordinal 5-point Likert scale that ranged from 1 = strongly disagree to 5 = strongly
agree. A high score indicated a higher degree of willingness to adopt e-banking services.
While retail banking leaders continue to invest annual budgets to improve the
infrastructure of online and mobile banking platforms, the customer adoption of these
services remains low (Mullan et al., 2017; Olufemi & Ezekiel, 2017; Onyango &
Wanjira, 2018). Davis (1989) argued that consumers adopted a system or application
primarily because of its functions and the ease by which it performed the functions. Sihna
& Mukherjee (2016) stated that the TAM model is known as a well-established, robust,
researchers adopted the TAM questionnaire as the suitable data collection instrument in
their studies to examine user acceptance of technological changes (Almazroi, Shen, Teoh,
61
& Babar, 2016; Ibanez, Serio, Villaran, & Delgado-Kloos, 2016). Laksono, Priadythama,
& Azhari (2015) used the modified TAM questionnaire to test whether users accepted the
use of props for learning media, while Wang, Huang, & Hsu (2017) developed a
(Cristovao-Verissimo, 2016; George & Kumar, 2015; Salimon, Yusoff & Mohd Mokhtar,
2017). For this study, the TAM questionnaire was appropriate to examine the relationship
the modified questionnaire. The survey remained open for 14 days to allow participants
to complete the survey at their convenience; they also had the option to stop and continue
the survey without restrictions. Researchers used SurveyMonkey® as the data collection
with the adoption of technological changes (Mahon, 2014; McDowall & Murphy, 2018).
SurveyMonkey® has a secured data server with 24-hour firewall protection and is
suitable to store participants’ responses without compromising the data (Mahon, 2014;
McDowall & Murphy, 2018). At the end of the survey period, I downloaded the
quality in questionnaires and analyze the data using statistical software such as the SPSS
application. Aadnanes, Wallis, and Harstad (2018) applied SurveyMonkey® and SPSS
62
statistical software for data collection and analysis in their quantitative study. I calculated
the scores using the naming convention in SPSS statistical software. PU and PEOU were
the independent variables, and customer adoption of e-banking was the dependent
variable. I calculated the scores for PU, and PEOU using the legend: “Yes”, “No”, and
“?” and converted them in SPSS for analysis. I coded “Yes” as 1, “No” as 0, and “?” as 3.
The survey did not include a provision for free format text; therefore, there was no need
In quantitative research, the credibility of the study should withstand the peer
scrutiny to ensure the research instrument tested all variables, measured the criterion
variable, and is comparable to other tools that test the same constructs (Heale &
Twycross, 2015; Zyphur & Pierides, 2017). In this study, I used Cronbach’s alpha
coefficient to measure the reliability of the TAM instrument. The Cronbach’s alpha
reliability (Heale & Twycross, 2015; Vaske, Beaman, & Sponarski, 2017; Venkatesh, &
Bala, 2008). Davis (1989) created and validated the TAM questionnaire with a Cronbach
alpha of .97 for PU and .93 for PEOU. Cooper, Collins, Bernard, Schwann, and Knox
(2019) and Heale and Twycross (2015) noted that .70 is the minimum acceptable
Cronbach’s alpha coefficient while between .80 and .90 are considered desirable.
Previous researchers used Cronbach’s alpha coefficient to test the reliability of the data
George & Kumar, 2015; Ling, Fern, Boon, & Huat, 2016; Salimon et al., 2018; Shaw &
63
Sergueeva, 2019; Tan & Lau, 2016; Yadav, 2016). Cronbach alpha was, therefore,
The important components for evaluating the quality of quantitative research are
content validity, construct validity, and criterion-related validity. Researchers stated that
validity confirms if the instrument accurately measures the concept in a quantitative study
(Bryman, 2016; Cooper et al., 2019; Heale & Twycross, 2015; Saunders et al., (2015).
Content validity is concerned with the instrument adequately covering all the variables
(Heale & Twycross, 2015; Bryman, 2016; Saunders et al., 2015). Construct validity
determines if the researcher can draw inferences about the test scores related to the
2016; Heale & Twycross, 2015; Saunders et al., 2015). Criterion-related validity refers to
the measurement of the same variables by other instruments in three ways: divergent,
convergent, or predictive validity (Bryman, 2016; Heale & Twycross, 2015; Saunders et
al., 2015). Cooper et al., (2019) stated that a criterion-related validity coefficient (r) > .45
they address the reliability and validity with the tools or instruments used in the study
(Heale, & Twycross, 2015; Johnson, 2015; Morse, 2015; Saunders et al., 2015; Zyphur &
Pierides, 2017). In this quantitative study, I relied on the validity of previous researchers
(Bryman, 2016) and provided evidence to address the reliability and validity of the TAM
instrument in an attempt to examine the relationship between PU, PEOU, and customer
purpose of this study and aligned the questionnaire to the research questions on the PU
and PEOU constructs to address concerns with reliability and validity (Appendix A).
Researchers modified the TAM constructs in their studies to include constructs from
other theoretical frameworks to investigate the factors that influenced user intention to
include constructs from the theory of reasoned action; attitude towards use and behavioral
intention. George (2018) extended the TAM questionnaire to include service quality as an
external variable. Other researchers modified the TAM questionnaire to include other
constructs such as personality traits (Moslehpour, Pham, Wong, & Bilgicli, 2018;
Before commencing use of the TAM questionnaire in the data collection process
for this study, I requested permission from MIS Quarterly Carlson School of
Scale for Perceived Usefulness and Perceived Ease of Use” (Appendix B). I modified the
and consented to take the survey. I stored the survey data on a password-protected
computer and encrypted flash drive for ease of retrieval when formally requested and
The data collection technique covers the process to collect data for research. In
this study, I used SurveyMonkey®, a web-based database, to collect data for analysis. In
surveys for data collection (Chechen et al., 2016; Jansen & van Schaik, 2018; Marafon,
Basso, Espartel, de Barcellos & Rech, 2018; Shaw & Sergueeva, 2019). I distributed the
survey on social media network sites (Facebook, Twitter, LinkedIn) for a period of 14 to
28 calendar days, I asked participants to complete the survey within 14 calendar days,
and I indicated the average time it took to complete the survey. I designed the survey into
three main sections. Section 1 covered six demographic questions, section 2 included six
of e-banking services. The survey was compatible and accessible on laptops, desktop
computers, and mobile devices for ease of completion. By Day 8, I sent reminder emails
to participants to complete the survey. Some researchers suggested the use of text
& Wilke, 2019). I did not use text messages because I did not intend to request
safeguard participants’ privacy. If I did not receive the required number of valid
responses by day 14, I would have kept the survey open for an additional 7 to 14 calendar
days until I collected at least 150 valid responses to meet the study’s criteria of between
68 to 146 valid responses. I downloaded the data from SurveyMonkey® into Excel and
66
uploaded it into the IBM SPSS version 24 statistical software to conduct a multiple
aggression analysis.
traditional paper-based techniques (McDowall & Murphy, 2018; Thu, Thuy, Huong, An,
& Andreas, 2018). Researchers claimed that web-based surveys have several advantages:
(a) cost-efficient, (b) convenient, (c) better suited for large population, (d) rapid data
collection, and (e) easily accessible by participants (Handscomb et al., 2016; McDowall
& Murphy, 2018; Thu et al., 2018). Researchers found that web-based surveys allowed
for automated storage of responses, limited handling of data, and ease of data transfer to
statistical applications for data analysis (O’Brien et al., 2016). Guo, Kopec, Cibere, Li, &
Goldsmith (2016) and McPeake, Bateson, and O’Neill (2016) noted that a web-based
survey could be configured for browsers on mobile devices to give participants the
convenience of completing the survey using their tablets or mobile smartphones. The
disadvantages associated with web-based surveys are inadequate sample sizes, low
response rates, and other additional biases that may negatively impact the participants’
Researchers claimed that web-based surveys are not suitable for open-ended
questions because the interviewer is not present to probe for answers (Pursey, Burrows,
Stanwell, & Collins, 2014; Wallace, Cesar, and Hedberg, 2018). Tran, Porcher, Falissard,
and Ravaud, (2018) found that web-based surveys are not suitable for open-ended
choose participants, and data collection and analysis is sequential instead of using
67
iterative cycles. Researchers who use web-based surveys exclude individuals with no
Internet access from the data collection process (McDowall & Murphy, 2018). McPeake
et al. (2014) claimed that a web-based survey could potentially increase the risk of fraud
for Internet users. To address the limitations of using a web-based survey in this study, I
redistributed the survey until I have the required sample size, I did not ask open-ended
questions, and participants without Internet access did not meet the eligibility criteria for
data collection.
validity of the research instrument (Bryman, 2016; Saunders et al., 2015). In recent
instrument with a Cronbach above .70 (Chauhan, 2015; Chechen et al., 2016; Priya et al.,
2018; Sinja & Mukherjee, 2016). Other researchers relied on previously validated studies
by experts in the information technology and banking industry (Alkailani, 2016; Danyali,
2018; Malaquias & Hwang, 2019; Mansour, 2016; Ozlen & Djedovic; 2017; Ramos et
al., 2018). For this study, I relied on the validated research from the extant literature and
Data Analysis
The overarching research question of this study is: What is the relationship
examine the relationship between the independent variables: PU and PEOU, and the
multiple linear regression analysis to examine the relationships between two or more
Anghelache, Manole, & Anghel, 2015; Khan & Zubaidy, 2017; Mahmoudi, Maleki, &
Pak, 2018; Pina-Monarrez, Avila-Chavez & Marquez-Luevano, 2015). There are three
hierarchical regression, and stepwise linear regression (Ching-Kang, Lai, Shen, Tsang, &
Yu, 2017; Green & Salkind, 2017; Saunders et al., 2015). The primary purpose of
(Green & Salkind, 2017; Saunders et al., 2015). In prior studies on the adoption of e-
between variables. Changchit, Lonkani, and Sampet (2017) adopted multiple regression
analysis to explore the determinants for the usage of mobile banking, Arora and Sandhu
(2018) and Dumicic, Ceh-Casni, and Palic (2015) employed multiple regression analysis
69
to investigate the reasons for consumer usage of Internet banking. Multiple regression
sample t-test, analysis of variance (ANOVA) tests, bivariate linear regression, Pearson’s
correlation, discriminant analysis, and factor analysis (Green & Salkind, 2017; Saunders
et al., 2015). The independent sample t-test is the appropriate statistical analysis when the
Mahmoudi, Maleki, & Pak, 2018). The independent t-test was not appropriate for this
study because I did not attempt to determine if a difference existed between variables.
When comparing mean differences between more than two groups of dependent and
compare the means in the groups or from various occasions, ANOVA is the appropriate
testing technique (Anders, 2017; Danila, Ungureanu, Moraru, & Voicesce, 2017; Pandis,
2015). The ANOVA was therefore not suitable for this study because I did not test
regression predicts the effects of one variable on another or multiple variables, but it does
not distinguish between independent and dependent variables (Green & Salkind, 2017;
Ivashchenko, Khudolii, Yermakova, Iermakov, Nosko, & Nosko, 2016). Bivariate linear
regression analysis was not appropriate for this study. I did not use the Pearson Product-
Moment correlation coefficient because it assesses the relationships among three or more
2016; Sher, Bemis, Liccardi, & Chen, 2017). Researchers use discriminant analysis to
predict membership in two or more mutually exclusive groups and is appropriate for
testing two categories of variables, and factor analysis helps with identifying the small
number of factors that explain the major variance in a larger number of variables (Green
& Salkind, 2017). In this study, neither discriminant analysis nor factor analysis were
suitable analytical techniques. Multiple regression analysis was appropriate for this study
because I examined the relationships between two independent variables and one
dependent variable.
quantitative studies. Researchers use data cleaning to examine the collected information
for missing, incomplete, or invalid information in the dataset before commencing the data
analysis process (Kupzyk & Cohen, 2015; Leopold, Bryan, Pennington, & Willcutt,
2015). Dorazio (2016) noted that the data cleaning process required an in-depth
examination of the collected information to identify and address data errors, remove
outliers, and revalidate the accuracy of the required sample size to ensure accuracy in the
data analysis process. After the survey closes, I examined the data collected to screen for
also examined the data for outliers, eligibility of participants, and accuracy of the sample
size following the data cleaning process. I discarded invalid data from the analysis
process. Researchers purported that invalid data creates uncertainty and unreliability in
the data analysis process resulting in either inconclusive or unjustified findings (Cai &
71
Zhu, 2015; John-Akinola & Nic Gabhainn, 2015). If the required sample size for the
study was not achieved following the data cleaning process, I would have redistributed
the survey for 7 calendar days or until the appropriate sample size was received within
In quantitative studies, researchers assume that there will be missing data from
web-based survey instruments. Missing data occurs when participants fail to complete the
survey in its entirety which can have a negative impact on data interpretation and findings
(Cai & Zhu, 2015; Dorazio, 2016; John-Akinola & Nic Gabhainn, 2015). According to
Bryman (2016), respondents may exclude a question deliberately, forget to answer the
question, or do not know the answer to the question. In this study, I leveraged the SPSS
statistical software to compute inconsistencies with the data and employ regression
imputation to replace missing data with substitute values where there are at least two
linearity, homoscedasticity, and outliers (Bryman, 2016; Green & Salkind, 2017;
Bryman, 2016; Saunders et al., 2015). Normality is important for researchers to decide
the measures of central tendency (Mishra et al., 2019). In a normal distribution analysis,
the variables are displayed on a bell curve, and a violation of normality indicates that the
sample size is too small (Green & Salkind, 2017; Schmidt & Finan, 2018) or the incorrect
Altindga, & Tuac, 2017). Researchers apply the skewness-kurtosis method to test for
72
normality in a dataset (Psaradakis & Vavra, 2018; Schmidt & Finan, 2018) but Curran-
Everette (2017) suggested that bootstrapping is the best method to assess normality
because it highlights the theoretical distribution of the sample statistics which concerns
researchers more so than the distribution of observations. In this study, I used the
(Bryman, 2016; Green & Salkind, 2017; Saunders et al., 2015). The assumption is that
multicollinearity decreases when the sample size increases (Yu, Jiang, & Land, 2015).
Researchers use the variation influence factor (VIF) between 5 and 10 to address issues
with multicollinearity (Yu et al., 2015) I employed the VIF technique in the data analysis
for this study. Linearity indicates the degree of change of the dependent variable on the
independent variables (Bryman, 2016; Saunders et al., 2015). Researchers use linearity to
plots (Austin & Steyerberg, 2015; Pandis, 2015). Homoscedasticity represents the
equality in variances between dependent and independent variables (Chang, Pal, & Lin,
probability plot (P-P) of the standard residuals or the Levene test (Jupiter 2017). Outliers
are data which appear to be significantly higher or lower than the remainder of the data
set and are identified by examination of the data using scatterplots (Green & Salkind,
relationship between at least two predictor variables and one dependent variable (Hanley,
73
2016; Ramavhona & Mokwena, 2017). Green and Salkind, 2017 found that testing for
data set validates the statistical analysis of the relationships among the variables. Green
and Salkind’s approach was supported by other quantitative researchers who adopted
multiple regression analysis in their studies (Ching-Kang et al., 2017; Khan & Zubaidy,
2017; Pina-Monarrez et al., 2015). In this study, I used the scatter plot in SPSS statistical
linearity, and homoscedasticity by examining the normal probability plot (P-P) of the
Violations of assumptions might occur during the data analysis process, which
could negatively impact the reliability of the results and the researchers’ conclusions
bootstrapping (Gerdin et al., (2016). In this study, I used the bootstrapping method to
parametric test used in regression analysis to randomly select samples data to predict
reliability (Arya, 2016; Sanchez-Torres et al., 2016). I employed between 1,500 to 2,000
interpret data (Bryman, 2016; Green & Salkind, 2017). In this study, I used SPSS to
conduct descriptive statistics. I analyzed the probability (p-value) of .05 and used the
medium size effect (f2 =.15) to present descriptive and discussed inferential statistic
results on the relationship between the independent variables: PU, PEOU, and the
determine the beta coefficients for the independent and dependent variables and their R2
values. I interpreted statistical significance by the coefficient R2 which should be less than
.05 to be statistically significant. I presented the mean (M), standard deviation (SD), and
bootstrapped results with a 95% confidence interval (CI) (M) for the number of valid
participants (N) for the variables in a tabular form. I used standard multiple linear
customer adoption of e-banking in Barbados. I accepted the null hypothesis and rejected
the alternative hypothesis if the results from the power analysis depict that R2 is
statistically greater than .05, indicating that there was no significant relationship between
variables.
Saunders et al. (2015) noted that the different types of scales of measurements
software such as Excel, Minitab, SAS, Statview, or IBM SPSS Statistics to input,
75
categorize, and analyze data (Bryman, 2016; Saunders et al., 2015). I used IBM’s SPSS
Statistics 24.0 software as the analytical tool for quantitative research. Krasiukova (2017)
found that SPSS was the appropriate statistical package to produce descriptive analyses
(mean, median, mode, standard deviation, skewness, and kurtosis) and inferential
Moslehpour et al., 2018). In prior studies on e-banking, researchers used SPSS statistical
adoption of e-banking (Bambore & Singla, 2017; Ramavhona & Mokwena, 2017). SPSS
statistical software was, therefore, appropriate for this study for statistical analysis,
Study Validity
consistency, while validity is concerned with the accuracy of data analysis, appropriate
2015; Moslehpour et al., 2018; Saunders et al., 2015; Zyphur & Pierides, 2017).
Researchers stated that both reliability and validity are subjected to internal and external
threats (Saunders et al., 2015). Peers and academics could question the reliability and
validity in studies if there are inconsistencies in the data analyses (Heale, & Twycross,
2015; Saunders et al., 2015; Yin, 2018; Zyphur & Pierides, 2017). Researchers use the
Cronbach’s alpha technique to validate the reliability of an instrument (George & Kumar,
76
2015; Ling et al., 2016; Mansour, 2016; Shaw & Sergueeva, 2019). I used the validated
TAM questionnaire with a Cronbach alpha of .97 for PU and .93 for PEOU (Davis, 1989)
of causal relationships among variables which can lead to inconclusive findings (Bleske-
Rechek et al., 2015; Heale, & Twycross, 2015). This research study was nonexperimental
and did not require manipulation of variables to determine a cause and effects of the
population (Moslehpour et al., 2018). Threats to external validity occur when researchers
fail to employ the appropriate sampling technique to align with the research question or
select the incorrect sample size for data collection and analysis (Pye, Taylor, Clay-
Williams, & Braithwaite, 2016). In this study, the sampling technique and representative
sample, therefore, reflected the nature of the correlational study. Following researchers’
participate in the study (Fricker, 2016; Shareef et al., 2018) and selected the
addressed threats to the selection validity process. While I addressed the threats to
reliability, internal, and external validity in this study, there might be threats to statistical
conclusion validity.
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Researchers use statistical conclusion when attempting to determine the
Mujinga, Eloff, & Kroeze, 2018). Threats to statistical conclusion relate to potential
errors researcher make when analyzing and interpreting data because of the application of
inadequate statistical power (Cunningham & Baumeister, 2016; Sehgal & Chawla, 2017;
Mujinga et al., 2018). A Type I error occurs with the identification of a non-existent
relationship and inaccurately rejecting the null hypothesis and a Type II error identifies
the inverse findings of a Type I error resulting in researchers’ incorrectly assessing the
outcome of the findings (Leppink et al., 2016; Li & Mei, 2016). Field (2013)
recommended that researchers use a statistical power of .80 or higher and a construct
reliability coefficient of at least.70 to address Type I errors. In this study, I minimized the
develop the appropriate sample size to test the independent and dependent variables.
Kennedy (2015) stated that post hoc analysis minimizes the threat to statistical conclusion
validity. Therefore, I conducted a post hoc analysis to confirm the sample size reduces
statement. I presented a comprehensive summary of the role of the researcher in the data
collection process, eligibility of the study participants, and how I gained access to them. I
discussed why I selected a quantitative correlational method and design for the study
instead of other methodologies, how I identified the population that aligned with the
78
research question and justified why I selected a sample size of 68 and 146 participants.
Section 2 also contained evidence on how I adhered to IRB’s ethical guidelines and
procedures for engaging human beings in research studies. I also presented a detailed
discussion on the data collection instrument, the data collection technique, and the data
analysis process. Section 2 concluded with a discussion on the reliability of the survey
instrument and how I addressed any threats to statistical conclusion validity. Section 3
practice, and the implications for social change. I concluded section 3 with
Introduction
Barbados. The predictor variables were PU and PEOU. The dependent variable was
customer adoption of e-banking services. In this section, I presented the findings of the
study, discussed the applicability of the findings to the professional practice of business,
and the implications for social change. I also provided recommendations for action and
The results from a multiple regression analysis indicated that there was a
banking services. The model as a whole was able to significantly predict customer
adoption of e-banking services, F(2, 69) = 123.503, p < .001, R2 = .782, Adjusted R2 =
adoption of e-banking services are accounted for by the linear combination of the
predictor variables (PU and PEOU). PU and PEOU were statistically significant with
PEOU (t = 6.249, p < .01, β = .574) accounting for a higher contribution to the model
than PU (t = 3.883, p < .01, β = .357). Assumptions surrounding multiple regression were
assessed with no serious violations noted. The conclusion from this analysis was that PU
and PEOU were significantly associated with customer adoption of e-banking services.
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Presentation of the Findings
PEOU, and customer adoption of e-banking services in Barbados. The research question
was:
RQ: What is the relationship between PU, PEOU, and customer adoption of
To answer the research question, I collected data for the variables using
participate in the study to eligible participants and embedded the link for the survey in the
letter. I used Twitter, LinkedIn, and Facebook social networks to target participants for
the study. Prior to completing the survey, participants were required to read and accept
the conditions outlined in the consent form. The projected time to complete the survey
was approximately 10 minutes, but the average time recorded by SurveyMonkey was 3
minutes. The survey remained opened for 2 weeks, however, on Day 8, I sent reminders
to participants to complete the survey and distributed new invitation requests to increase
the rate of participation. In total, I received 73 completed surveys. One record was
discarded due to missing data, resulting in 72 records for the analysis. I closed the survey
81
after 2 weeks because I exceeded the minimum criteria of 68 participants to conduct data
analysis as per the priori power analysis using G*Power statistical software (Faul et al.,
banking services to confirm that the sample size reduced the threat of Type 1 errors as per
sample of 72. Table 1 shows the results from the posthoc power analysis of the dependent
variable using an effect size of 0.15 based on a correlation coefficient for customer
Parameters Value
Input Parameters
Number of predictors 2
Output Parameters
Critical F 1.9502497
Numerator df 2
Denominator df 69
The demographic profile of participants showed that the population was mature
and well educated. Of the 44.4% (32) male and 55.6% (40) female respondents, 72.2%
were over the age of 35 with 97.2% having completed tertiary education. Table 2
Table 2
18 - 24 10 13.9%
25 – 34 10 13.9%
35 - 44 19 26.4%
45 - 54 23 31.9%
55+ 10 13.9%
Total 72 100%
Davis (1989) validated the TAM survey with a Cronbach alpha of .97 for PU and
.93 for PEOU. Subsequent researchers performed reliability and validity tests on the
TAM instrument and produced a Cronbach alpha between .70 to .90 (Ong et al., 2013;
Radnan & Purba, 2016; Rostami, Sharif, Zarshenas, Ebadi, & Farbood, 2018). Ganciu,
Neghina, Manescu, Simion, and Militaru, (2019) conducted a TAM study on customer
intention to adopt internet banking in Romania and produced a Cronbach alpha of .744.
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Rahi et al. (2017) in their TAM study on customer use of mobile banking in Saudi Arabia
and produced Cronbach alpha reliability for PU of .82 and PEOU of .86. In this study, I
adopted the validated TAM survey and did not test for reliability or validity of the
instrument but relied on the results of previous validated studies. I used multiple
regression analysis to test the assumptions, present descriptive statistics, and present
inferential statistic results. Then, I provided a concise summary and concluded with a
Tests of Assumptions
between two or more variable (Bagya-Lakshmi, Gallo, & Srinivasan, 2018; Kim, 2019;
Nguyen & Ng, 2020). Researchers use the VIF between five to 10 to address issue with
multicollinearity (Yu et al., 2015). In this study, I calculated VIF of the independent
variables and found that all values were less than five; therefore, the violation of the
assumption of multicollinearity was not evident. Table 3 highlights that there were no
PU .374 2.671
Note. N = 72.
were evaluated by examining the Normal Probability Plot (P-P) of the Regression
Standardized Residual (Figure 2) and the scatterplot of the standardized residuals (Figure
3). The examinations indicated there were no major violations of these assumptions. The
tendency of the points to lie in a reasonably straight line (Figure 2), diagonal from the
bottom left to the top right, provides supportive evidence the assumption of normality
was not violated. The lack of a clear or systematic pattern in the scatterplot of the
standardized residuals (Figure 3) supports the tenability of the assumptions being met.
However, 2,000 bootstrapping samples were computed to combat any possible influence
of assumption violations and 95% confidence intervals based upon the bootstrap samples
Descriptive Statistics
were evaluated with no significant violations noted. Table 4 depicts descriptive statistics
for the study variables. Figure 3 depicts a scatter plot of the bivariate correlation,
indicative of a positive linear relationship between PU, PEOU, and customer adoption of
e-banking services.
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Table 4
Inferential Results
Standard multiple linear regression, α = .05 (two-tailed), was used to examine the
independent variables were PU and PEOU. The dependent variable was customer
adoption of e-banking services. The null hypothesis was that there is no statistically
services. The alternative hypothesis was that there is a statistically significant relationship
between PU, PEOU, and customer adoption of e-banking services. Preliminary analyses
violations were noted. The model as a whole was able to significantly predict customer
adoption of e-banking services: F(2, 69) = 123.503, p < .001, R2 = .782. The R2 (.782)
services are accounted for by the linear combination of the predictor variables (PU and
PEOU). In the final model, PU and PEOU were statistically significant with PEOU (t =
89
6.249, p < .01, β = .574) accounting for a higher contribution to the model than PU (t =
adoption of e-banking services indicated there was about a .163 increase in customer
adoption of e-banking services for each 1-point decrease in PU. In other words, customer
semipartial coefficient (sr2) that estimated how much variance in customer adoption of e-
banking services was uniquely predictable from PU was .22, indicating that 22% of the
Perceived ease of use. The negative slope for PEOU (.245) as a predictor of
customer adoption of e-banking services indicated there was a .245 decrease in customer
adoption of e-banking services for each additional 1-unit increase in PEOU, controlling
for PU. In other words, customer adoption of e-banking services tends to decrease as
PEOU increases. The squared semipartial coefficient (sr2) that estimated how much
PEOU was .35, indicating that 35% of the variance in customer adoption of e-banking
services is uniquely accounted for by PEOU, when PU is controlled. The Table 5 depicts
B 95%
Variable Β SE Β β t p Bootstrap CI
Perceived
.163 .042 .357 3.883 <.001 [.084, .316]
usefulness
Perceived ease
.245 .039 .574 6.249 <.001 [.128, .334]
of use
Note. N= 72.
Analysis summary. The purpose of this study was to examine the relationship
between PU, PEOU and customer adoption of e-banking services in Barbados. I used
standard multiple linear regression to assess the relationship between the independent and
serious violations noted. The model as a whole was able to significantly predict customer
adoption of e-banking services, F(2, 69) = 123.503, p < .001, R2 = .782, Adjusted R2 =
.775. Both PU and PEOU provide useful predictive information about customer adoption
of e-banking services. The conclusion from this analysis is that PU and PEOU are
examine the relationship between multiple independent variables and one dependent
variable (Alhamide et al., 2016; Mahmoudi et al., 2018; Green & Salkind, 2017). In this
between PU, PEOU and customer adoption of e-banking services. I adopted Davis’
(1986) TAM theoretical theory which formed the foundational framework for several
91
studies on customer adoption of e-banking over the past two decades (Danyali, 2018;
relationship between PU, PEOU, and customer adoption of e-banking services (Ganciu et
al. 2019; George, 2018; Haider, Rahim, & Aslam, 2019; Normalini, 2018; Othman et al.
2019). Othman et al. conducted a study on customer behavior towards internet banking in
Malaysia and found that there was a positive effect of PU, PEOU, and perceived
credibility on customer intention to use internet banking. Likewise, Rahi et al. concluded
that PU, PEOU, and attitude were key variables for customer adoption of internet
banking in Pakistan. The findings of Vukovic, Pivac, and Kundid (2019), in their study
on customer acceptance of internet banking in Croatia found that PU and PEOU had
other researchers’ findings and identified PU and PEOU as significant variables that
influenced online banking adoption in Pakistan. The findings of this study therefore are
aligned with previous researchers’ conclusions and I rejected the null hypothesis.
customer adoption despite retail bank leaders’ efforts to increase e-banking adoption. The
purpose of this study was to examine the relationship between PU, PEOU, and customer
leaders understand customers’ expectations and develop strategies to increase the rate of
electronic banking adoption. The aim of the study was also to provide a model that could
92
potentially reduce high-cost over-the-counter transactions and increase profitability. The
results from a sample of 72 complete responses showed that both PU and PEOU had a
that e-banking is the preferred banking solution for customers of the State Bank of India.
Therefore, retail banking leaders in Barbados should use the results of this study to
The results of this study indicate that customers perceived e-banking as a useful
service which suggests that retail banking leaders could influence customer adoption if
they develop strategies to increase the usage of e-banking. Patel and Patel (2018)
purported that bank decision makers should encourage wider implementation and usage
of internet banking. The findings also indicate that to improve customer adoption of e-
banking, retail banking leaders must promote the convenience of performing banking
activities at any time, from anywhere, and in a cost-efficient manner. Malaquias and
Hwang (2019) argued that customers would realize timely access to their bank accounts
with better information. Similarly, Nwekpa, Djobissie, Chukwuma, and Ezezue (2020)
Nigeria that electronic banking helps customers to save time and money. Retail banking
leaders could use the results from this study to migrate customers to e-banking services.
The results from the study showed that PEOU has a higher significance to
customer adoption of e-banking than PU, which is an indication that customers perceived
93
e-banking easy to use, thus, increasing the likelihood that they will continue to use the
attract target audiences for e-banking adoption. Retail banking leaders could also focus
and adoption. Improving the design, layout, and performance of the platforms, such as
arrangement of menus and options could increase existing customer usage and new
use the findings of this study to gain an understanding on how to create organizational
to customers to ensure increase usage of the systems. Overall, the results of this study
retail banking leaders must continuously improve the components of e-banking to make it
easy to use.
The implications for social change include the potential for retail banking leaders
electronic banking services in Barbados and develop the appropriate strategies to increase
usage. Retail banking leaders may also have better insights into the aspects of electronic
financial services thereby increasing their disposable income to improve the economic
(Selvaraj & Ragesh, 2018). A practical implication for social change may include an
into an environmentally friendly society with a reduction in the paper used to perform
branch-based transactions. Retail leaders could use e-banking to promote the use of
traditional methods that generate paper. Bank leaders can in turn allocate additional
donations from retail banks for social, educational, and economic programs to improve
the socio-economic statuses of residents. The government of Barbados could use the
results of this study to engage private sector entities in its environmental preservation
projects.
Despite the low e-banking rates in Barbados, the findings of this study
demonstrated that customers perceive the e-banking to be useful and easy to use. The
recommendations for retail banking leaders to increase the adoption of e-banking include
95
(a) improvement to the e-banking technology infrastructure, (b) development of
(d) implementation of organizational structures, and (e) revision of fees and pricing.
Retail banking leaders should ensure that the e-banking platform is reliable,
available, and accessible for customer use. Patel & Patel (2018) found that incorporating
customers’ feedback was a measure for bank leaders to consistently implement e-banking
leaders allocate an annual budget to fund the maintenance and enhancement of e-banking
bank leaders’ commitment to periodically maintain and upgrade the websites to improve
Researchers recommended that bank leaders develop effective advertising campaigns and
Faisal, 2018; Alkailani, 2016; Patel & Patel, 2018). The banks’ marketing managers
could use social media networks, traditional media, and in-branch methods to advertise e-
banking features, benefits, and registration processes. Additionally, retail banking leaders
can offer incentives to existing users to promote e-banking to new prospects as per
(Putra, Suprapti, Yasa, & Sukaatmadja, 2019). A third recommendation, therefore, is that
the retail banking leaders educate their customers about the benefits of e-banking. Putra
et al. recommended that bank leaders erect a banner about the benefits of e-banking at
training tips, and frequently asked questions (FAQs) on the e-banking platforms to help
customers become self-sufficient with the applications. The educational material could
include tips on self-registration, password changes, use of features, and security protocols
(Malaquias & Hwang, 2019). The bank’s web development team would be responsible to
ensure the online platforms are frequently updated with the appropriate educational
Rohini (2020) found that service quality influenced customer adoption of e-banking. The
creation of dedicated teams to support e-banking can help increase customer adoption of
e-banking services. The service team would perform demonstrations of e-banking; and
respond to customer queries either via the telephone, email, chat box, or social media
networks. Each team would be equipped with training and procedures to resolve system-
related issues or customer queries, thus ensuring retention of existing customer and
conversion of new users (Danyali, 2018; George & Kumar, 2015; Gupta, 2018; Padmaja
et al., 2017). Retail banking leaders could project annual performance targets for e-
97
banking conversion and introduce employee rewards and recognition incentives to
encourage participation.
The final recommendation is that retail banking leaders use the results of this
study to generate increased revenue by revising their product pricing strategy. To reduce
the overhead costs of OTC transactions, the bank’s leaders can increase the fees for OTC
services and offer the same services at a lower cost or free of charge via e-banking
channels (George, 2018; Gupta, 2018). This diversion tactics would make in-branch
banking costly and unattractive to the customer who would opt for e-banking services.
The caveat to this recommendation is that bank leaders should develop an effective
other financial institutions, such as credit union, investment banks, and corporate or
wholesale banking who use or plan to introduce e-banking services. The study is also
design and promote the usefulness and use of e-banking. Regulators and government
agencies could use the findings and recommendations of this study to help implement
respectively. I plan to disseminate the results of this study at conferences and seminars on
innovation technology or electronic banking in Barbados and the Caribbean region. I also
There were four limitations of this study. The first limitation was that participants
could withdraw from the survey at any time, therefore; the valid responses may not be a
representation of the population. Future researchers could include other survey design
questionnaire to increase the level of participation. Increasing the sample size would
improve the likelihood of researchers achieving the valid response criteria for data
analysis.
The second limitation was the use of the survey technique with closed-ended
could adopt a mixed-method approach which has a qualitative component to capture the
qualitative design could strengthen the data collection process by capturing participants’
The third limitation of the study was the focus on retail banking customers in
Barbados that might not have represented the views of electronic banking customers in
other customer groups, financial institutions, or countries within the Caribbean region. A
recommendation for future researchers would be to include customers the corporate and
private banking sectors to examine the factors that influence customer adoption of e-
99
banking on a diverse customer base to improve generalization of the results. Additionally,
future researchers could replicate this survey for customers of credit unions and insurance
companies that have also embarked on electronic payments solutions. The impact of
customer adoption of e-banking could also be a topic for future research in other
frameworks. Likewise, researchers can include other variables such as trust, self-efficacy,
perceived risk, social influence, and cyber security as factors affecting customer adoption
of e-banking. Despite the limitations of the study, the findings are significant to
potentially improve retail banking leaders’ understanding of the factors that affect
Reflections
interest.
100
I conducted a quantitative study to expand my knowledge of the methodology,
applicable designs, and statistical analysis using SPSS statistical software. I may also use
the TAM theory as a benchmark framework for future research. As a banker, I have a
ensuring that I managed personal biases or preconceived ideas throughout the DBA study
appreciation to be a catalyst for positive social change within my country and the region.
I have a sense of accomplishment to know that the findings of this study will be
sources of reference for independent scholars and educators as they pursue future studies
business strategies to advance the adoption of e-banking. Overall, the DBA program has
extant literature.
Conclusion
Retail banks are symbolic of economic growth and stability in Barbados. To gain
and sustain competitive advantage, retail banking leaders implemented electronic banking
transactions. However, the rate of customer adoption of e-banking remained low. In this
PEOU, and customer adoption of e-banking. I adopted the TAM framework and validated
TAM survey instrument to collect primary data using SurveyMonkey. I used SPSS
customer adoption of e-banking. The results therefore supported the null hypothesis.
Retail banking leaders could use the results of this study to develop strategies
and technology innovators could use the results of this study to increase customer
adoption of e-banking in Barbados and the Caribbean region. The four limitations of this
study are fundamental for future researchers to examine the factors that influence
customer adoption of e-banking and contribute to business practice, social change, and
extant literature. Despite the limitations, this study could be a source for retail banking
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Questionnaire
Title: Perceived usefulness, perceived ease of use, and user acceptance of technology
Authors: Davis F.D.
Publish Date: September 1989
Journal: MIS Quarterly
Content requesting permission for: questionnaire
Journal volume: 13
Issue: 3
Page: 340
164
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